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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.


  • Staffing Industry

    $ 10,000,000

    Factoring

    Northeast
    • Client: Northeast Staffing Agency acquiring another entity in the same industry.

    • Situation: Client was seeking acquisition financing and had been working with an asset based lender to finance the acquisition. The proposed asset based lender was procrastinating and the client was at risk of losing the opportunity to acquire the target company.

    • Need: Client needed financing in less than two weeks in order to keep the deal alive until they could close an asset based loan at a later date.

    • Solution: Within two weeks, Prestige was able to provide the financing needed to acquire the company and structured a bridge facility allowing client to graduate to ABL in 3 months.

  • Media and Branding Company

    $ 750,000

    Factoring

    New York
    • Client: New York based media and branding company.

    • Situation: The company bills their clients in installments under a contract. They had been financed by a factoring company who could not finance milestone billed receivables. Therefore, most of their invoices were deemed ineligible for funding.

    • Need: They needed an experienced factoring firm who understood their industry, the nature of their billing. One who could provide the financing that they needed in order to keep their cash flow steady.

    • Solution: Their banker was able to make an introduction to Prestige. Prestige was able to replace their current factor, giving them access to greater liquidity by financing all of their receivables, including those that were billed in milestones.

  • Manufacturer and Distributor of Swimming Pool Accessories

    $ 750,000

    Factoring

    Southwest
    • Client: Creator, manufacturer and distributor of innovative swimming pool accessories.

    • Situation: Client’s business was beginning to grow beyond his initial seed investment.

    • Need: Client was seeking purchase order financing and factoring to fill his orders which were growing in size.

    • Solution: His investment banker made an introduction to Prestige. Coordinating efforts with our Purchase Order finance partner, we were able to assist the client to fill his orders ensuring his continued steady growth.

  • Online Publisher and Experiential Brand

    $ 500,000

    Factoring

    New York
    • Client: NY based online publisher and experiential brand.

    • Situation: Their bank was no longer able to provide financing as their financials no longer supported the loan amount that they had.

    • Need: Cash flow to support their growth.

    • Solution: Prestige was able to finance their receivables and pay off their bank so that they could focus on their growth.

  • Women’s Apparel Company

    $ 1,000,000

    Factoring

    Southeast
    • Client: Southeast based women’s apparel company.

    • Situation: This client had recently ended her partnership with one partner and was forming a new corporation with her overseas supplier.

    • Need: Client needed to have a financing partner to give comfort to her suppliers that she would have steady cash flow to pay for the product in a timely manner as well as have credit protection on her retail invoices.

    • Solution: Putting together a 1 million line for this client, Prestige was able to ensure that her business could scale up quickly and that Prestige’s credit department could monitor her retailer’s credit.

Similar Pages: Dip Financing | Bridge Financing | Invoice Factoring