Marble and Tile Importer
The twenty-year-old company had historically been self-funded. The importer experienced a cash flow crunch when its receivable turnover slowed to an unprecedented 60 days and its vendors required payment within 30 days.
The company’s bank was taken over by the FDIC which resulted in their loss of an ongoing funding source. Without a line, the 11-year-old company was unable to pay its vendors and had to scale back operations.
Architectural Design Firm
The six-year-old firm obtained a large project to design an amusement park exhibit which was billed on a progress basis with extended terms
Sustainable Building Systems
A three-year-old environmentally friendly company had experienced strong growth. Given its short history and inability to show strong financial performance, the company was unable to obtain traditional bank financing. Prestige was introduced to the client by a banker who was unable to provide a loan but wanted to provide banking services to the company.