$ 250,000| Factoring | New York
$ 250,000| Factoring | New York
Client:
New York-based organic baby food manufacturer with $2 million in annual sales.
Situation:
The three-year-old company was experiencing rapid growth due to large orders from big box retailers. The bank was unable to increase its small credit facility.
Need:
The client needed additional cash flow to fulfill the orders and be able to take on new customer relationships.
Solution:
Prestige paid off the bank and provided $250,000 in accounts receivable financing for their first assignment. Orders grew at a rapid pace, with no risk of having to turn down new orders due to a lack of cash flow. In less than a year, the client successfully refinanced their line with a low cost bank facility and grew their business more than tenfold.
