How Factoring Works
Factoring is a type of financing that helps improve the cash flow of companies that have slow-paying invoices. Usually, a factoring company purchases the accounts receivable of the client which gives the client access to immediate funds which can be used to pay for business expenses. It is a line of credit based on how much sales you generate not your net worth. There are NO limits when working with Prestige Capital and you can get started with as little as $100,000 in qualified accounts receivable.
Purchase Order Financing
Purchase order financing is a funding option for companies that need cash to fill single or multiple customer orders. Numerous businesses cash flow problems exist. There will be times where there is not enough money available to cover the costs of doing business. As a result, there may be an order from a client that isn’t able to be fulfilled due to a lack of cash.
A company may not be able to afford the supplies necessary to meet the client’s particular needs. Having to turn the order down would mean a loss of revenue and perhaps even a tarnished reputation because of the inability to keep up with business.If word gets around that a company is turning away business because they can’t afford to complete jobs, a potential customer or client will feel more entitled to search out other options. Groups that considered giving that company their business will likely think twice. Therefore, to avoid such scenarios, it is imperative that businesses find the money that they need. For some companies, purchase order financing is the best and only way to go when these issues arise.
Prestige Capital Comedy Show at We Work “Tower 49”
Innovation is something we take pride in at Prestige Capital. We are always looking for new ways to change how business owners perceive financing. Rachel Hersh has taken this concept to a new level by incorporating fun and yet educational events for current clients, past clients, and potential clients to enjoy. This particular event was launched in collaboration with the We Work “Tower 49”. We held an incredible Comedy Show hosted by the very funny Tyler Fischer, who has made appearances on shows like Chicago Med, TV Land’s Younger and performed on America’s Got Talent. Tyler also brought some very funny and familiar guest’s with him, Matt Ruby (MTV’s Girl Code), Carolyn Castiglia (Ultimate Sports Mom) and Judah Friedlander (NBC’s 30 Rock). Here is a teaser of our Comedy Show. Get updates on future events by following us on Social Media.