$ 750,000| Factoring| New York
$ 750,000| Factoring| New York
Client:
New York based media and branding company.
Situation:
The company bills their clients in installments under a contract. They had been financed by a factoring company who could not finance milestone billed receivables. Therefore, most of their invoices were deemed ineligible for funding.
Need:
They needed an experienced factoring firm who understood their industry, the nature of their billing. One who could provide the financing that they needed in order to keep their cash flow steady.
Solution:
Their banker was able to make an introduction to Prestige. Prestige was able to replace their current factor, giving them access to greater liquidity by financing all of their receivables, including those that were billed in milestones.
