Early Stage Financing
Entrepreneurs often lack the operating history necessary to raise capital to finance a business. Factoring is often used by startups to provide the capital necessary to get a business off the ground.
Client: Florida-based call center with $15 million in annual sales.
Situation: A re-start of a company lacked financing for working capital needs.
Need: This fast-growing company was looking to keep its cash flow moving smoothly and did not want to dilute its ownership through equity financing.
Solution: Prestige provided a $1 million dollar factoring line with a tiered pricing structure based on volume.
Nutritional Juice Company
Client: New York-based nutritional juice company.
Situation: Early stage venture looking for start-up financing.
Need: The client was seeking an alternative to equity funding to fulfill its initial orders from a big box retailer.
Solution: Prestige provided a $750,000 factoring line in less than seven business days which allowed the juice company to fulfill the orders and take advantage of new opportunities.