$ 5,000,000| Factoring | Midwest
$ 5,000,000| Factoring | Midwest
Client:
Midwest-based consumer electronics company with $75 million in annual sales.
Situation:
The bank for this eight-year-old seasonal business failed to close a new line of credit in a timely manner.
Need:
The client needed bridge financing to fill the gap until permanent financing could be obtained.
Solution:
Within five business days, Prestige provided a $5 million bridge facility to alleviate the timing pressure until the company’s bank could close the facility.
