A measure of both a company’s efficiency and its short-term financial health, working capital is the cash a business requires to fund day-to-day operations. At times, working capital constraints occur due to rapid growth, seasonality, delayed customer payments and other unexpected events. Factoring provides immediate access to cash for business owners.
Client: Georgia Hair Accessory Company
Situation: This company won an award as best new retail product and was awarded wide distribution in all regions of the chain.
Need: The client needed immediate cash flow to pay their suppliers in a timely manner.
Solution: Within two weeks the client was able to factor their invoices enabling them to pay their supplier in a timely manner.
Client: California AI Company
Situation: The client needed liquidity in the 4th quarter to pay suppliers during their busy holiday season.
Need: The client was actively seeking an increase in their bank line to support their growth, however, the bank was not comfortable giving a line increase at this time.
Solution: Prestige was able to work with the bank in a carve out situation, to finance the client’s largest retail receivables to provide liquidity to pay their suppliers in a timely manner.
Client: Toy Company
Situation: This company had been bought out of bankruptcy by an investor and needed cash flow for operations.
Need: Client needed immediate cash flow for operations and to pay licensing fees.
Solution: Within one week Prestige financed the client’s receivables enabling client to pay licensing fees in a timely manner as well as provide ongoing cash flow to pay suppliers.
NY Watch Company
Consumer ProductsNew York
Client: NY Watch Company
Situation: Company was seeking immediate cash flow during their busy fourth quarter.
Need: As their bank was unable to provide a loan, they made an introduction to Prestige to provide invoice financing.
Solution: Within one week the client financed $1,000,000 of receivables enabling them to pay their suppliers in a timely manner.
Client: East coast specialty alloy mfg. company.
Situation: Company wanted a fast, simple credit line that was accessible when needed.
Need: On occasion the customer experienced demand spikes. They needed facility in place to handle an immediate need for capital.
Solution: Prestige’s flexibility allows for no minimum borrowing requirements, quick closing speed and a nominal fee to close.