$ 750,000| Factoring | Long Island
$ 750,000| Factoring | Long Island
Client:
Long Island-based perfume packaging company with $5 million in annual sales.
Situation:
The two-year-old business had a significant sales concentration which made it very difficult to obtain traditional bank financing. In addition, the company required purchase order financing to fulfill large perfume orders.
Need:
The client needed a financing partner who could structure a unique financing solution tailored to their specific needs.
Solution:
Within one week from application, Prestige funded existing invoices to help the company pay for goods from their suppliers and simultaneously introduced them to a purchase order partner to help fund future purchase orders.
