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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.

  • Manufacturer of Thermal Backfill

    $ 900,000


    New England
    • Client: New England-based refrigeration and air conditioning service specialist with $4 million annual sales.

    • Situation: The twenty-year-old company’s existing lender could no longer support its rapid growth. The company was awarded two long term contracts which would almost double their revenue.

    • Need: The client needed a growth facility which would enable them to accept and support large orders.

    • Solution: The existing lender felt a strong loyalty to client and agreed to a structured payoff to expedite the closing and support the client’s needs. Within seven days, Prestige provided a factoring line which enabled client to transition seamlessly.

  • Manufacturer of Telephone Accessories

    $ 2,500,000


    New Jersey
    • Client: New Jersey-based manufacturer of telephone accessories with $1million in annual sales.

    • Situation: The start-up was looking for an alternative to raising equity at the early stage of their business.

    • Need: The client needed working capital to pay overseas suppliers in a timely manner.

    • Solution: Prestige provided a $2.5 million factoring line of credit to meet the client’s initial needs and provide for ongoing growth.

  • Software Consultant

    $ 750,000


    New York
    • Client: New York-based Microsoft software consultant with $4 million annual sales.

    • Situation: The six-year-old company was seeking to refinance its line when it became a victim of a bait and switch scenario by an unscrupulous lender. Shortly before loan closing the company learned that the lender’s actual terms varied drastically from the original proposal.

    • Need: The client was in need of immediate financing and wanted a lender they could trust.

    • Solution: Prestige provided a fast, simple and straightforward proposal and closed on a factoring facility within five business days.

  • Refrigeration and A/C Services

    $ 550,000


    New England
    • Client: New England-based refrigeration and air conditioning service specialist with $4 million annual sales.

    • Situation: The fifteen-year-old seasonal business had fluctuations in sales and cash flow throughout the year. A request for a line increase to provide additional working capital during peak periods was declined by their bank.

    • Need: The client needed flexible working capital financing to purchase inventory and hire seasonal personnel.

    • Solution: Within ten days from application, Prestige provided the client with a factoring facility which provided steady and predictable cash flow and met seasonal demands.

  • Perfume Packaging Company

    $ 750,000


    Long Island
    • Client: Long Island-based perfume packaging company with $5 million in annual sales.

    • Situation: The two-year-old business had a significant sales concentration which made it very difficult to obtain traditional bank financing. In addition, the company required purchase order financing to fulfill large perfume orders.

    • Need: : The client needed a financing partner who could structure a unique financing solution tailored to their specific needs.

    • Solution: Within one week from application, Prestige funded existing invoices to help the company pay for goods from their suppliers and simultaneously introduced them to a purchase order partner to help fund future purchase orders.

Similar Pages: Dip Financing | Bridge Financing | Invoice Factoring