$ 2,000,000| Factoring | Midwest

Client:

Midwest bulk material handling company with $10 million in annual sales.

Situation:

Client was unhappy with their former factor who was not timely in funding assignments of invoices. The client asked his equipment lender for a referral to a new working capital provider.

Need:

Solution:

Prestige provided a $2 million factoring facility to pay off the former factor within six days, and together with the equipment lender, worked out a collateral sharing agreement which gave the client greater borrowing power.