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Working Capital

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.


  • Transit Company

    $ 2,500,000

    Factoring

    New York
    • Client: New York based paratransit company.

    • Situation: Client was factoring its receivables with another factor and needed a larger line that the current factor was not able to support.

    • Need: Client needed to double its existing factoring facility quickly to support two new contracts.

    • Solution: Prestige paid off the existing factoring line and provided liquidity and peace of mind as the client executed its new contracts.

  • Transportation Company

    $ 500,000

    Factoring

    Virginia
    • Client: Virginia based trucking company.

    • Situation: This 7 year old company was growing quickly and needed its first line of credit to support its growth.

    • Need: The new government contract that they received required greater resources and equipment.

    • Solution: By providing this $500,000 line against receivables , client used the available cash to hire additional drivers and purchase two trucks to meet the contract’s demands.

  • School Bus Company

    $ 2,400,000

    Factoring

    New York
    • Client: New York City school bus company

    • Situation: This 25 year old company needed to pay off a bank line due to losses.

    • Need: Client needed to move quickly as school season was about to begin.

    • Solution: In 8 business days, Prestige provided a $2.4 million dollar line to pay off their bank enabling them to seamlessly execute under their contracts.

  • Importer of Men's Apparel

    $ 1,000,000

    Factoring

    New Jersey
    • Client: New Jersey importer of men’s dress shirts.

    • Situation: Client was unable to keep up with pace of orders from large retailers and their bank was unable to extend a credit facility due to the lack of financial strength of the company.

    • Need: The client needed a growth facility to fill the orders from large retailers and continue to grow their business.

    • Solution: Prestige provided a $1 million dollar facility so that the client would be able to fill his backlog of orders and grow his business. He has since added another division and has obtained a line of $1 million for that entity as well.

  • Automotive Parts Manufacturer

    $ 40,000,000

    Factoring

    Midwest
    • Client: Midwest Automotive Parts Manufacturer

    • Situation: An automotive holding company was in aggressive acquisition mode in an attempt to take advantage of the downturn in the automotive industry.

    • Need: The client was looking to partner with a commercial finance source that could close complex leveraged buyouts in 2 weeks or less.

    • Solution: Prestige was able to close and fund seven separate transactions totaling $40 million in combined facilities. Within 6-9 months, the client graduated to an $80 million ABL facility.

Similar Pages: Dip Financing | Bridge Financing | Invoice Factoring