Manufacturer of Thermal Backfill
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.
Manufacturer of Telephone Accessories
The start-up was looking for an alternative to raising equity at the early stage of their business.
The ten-year-old subsidiary was historically funded by its foreign parent company. Due to global banking environment, the parent company made an abrupt decision to stop supporting the U.S. subsidiary. The subsidiary faced closure if it could not secure financing.
The start-up company, which was originally seeking equity financing, was introduced to Prestige by a bank seeking their non-lending business. The client had a 100% sales concentration account which made it very difficult to raise equity or obtain traditional bank financing. In addition, the client’s contract manufacturer was unable to provide terms due to a lack of payment history.
Consumer Products Company
The fifteen-year-old company’s lender was unable to provide a scheduled seasonal over advance due to issues with its own bank. The client was at risk of losing $5 million in sales.