$ 500,000| Factoring| New York
$ 500,000| Factoring| New York
Client:
New York-based creative services firm with $2.5 million in annual sales.
Situation:
The one-year-old company creates advertising jingles for airlines and other clients. It takes the firm 45 to 60 days to generate billable work and then an additional 45 days before payments are received. This lengthy cycle resulted in cash flow constraints for the firm.
Need:
The client required working capital financing to support this growing business.
Solution:
Prestige provide a $500,000 line which bridges the gap between invoicing and payment and supports daily working capital needs.
