Refinancing

When a company enters or exits a growth stage, is experiencing financial or operational challenges, or has outgrown its current bank, it is likely time to secure replacement financing. Factoring is a very powerful financing tool and should be considered by business owners when going through periodic refinancing exercises.

  • Consumer Products Company

    $ 12,000,000

    Consumer Products

    New York

    • Situation: This 30 year old company needed to pay off their bank due to a breach of financial covenants.

    • Need: Client needed to move quickly to pay off their bank line before year end. Their bank line included both accounts receivable and inventory.

    • Solution: Prestige brought in an inventory lender to partner with, enabling a combined facility to have sufficient cash to pay off the bank. Within two weeks, the financing was provided to pay off the bank within their expected payoff date allowing the company to continue with their turnaround plan.

  • Pennsylvania Software and E-Learning Company

    $ Line Amount

    Service Providers

    Pennsylvania

    • Client: Pennsylvania Software and E-Learning Company

    • Situation: Company was introduced to Prestige after they had experienced losses and needed to exit their current financing with the bank.

    • Need: The bank needed to be paid off quickly before quarter end.

    • Solution: Prestige worked closely with the bank’s workout team to insure the payoff was made with the bank’s requirement.

  • Pennsylvania Data Analytics

    $ Line Amount

    Service Providers

    Pennsylvania

    • Client: Pennsylvania Data Analytics

    • Situation: The company which had been funded by a bank was seeking to refinance their bank loan.

    • Need: The bank that had funded them had exited this business sector and was seeking a finance firm to replace the bank’s current financing.

    • Solution: Prestige quickly funded their receivables, paying off the bank in a timely manner.

  • Minnesota Recycling Company

    $ 7,000,000

    Service Providers

    Minnesota

    • Client: Minnesota Recycling Company

    • Situation: Client’s lender was looking to exit their financing relationship as their loan became too small.

    • Need: A lender to replace their bank who would provide working capital, flexibility and sufficient funds to pay off existing lender.

    • Solution: Prestige Capital provided the pay off to their lender and funded their ongoing operations seamlessly.

  • Massachusetts Toy Company

    $ 2,000,000

    Consumer Products

    Massachusetts

    • Client: Massachusetts Toy Company

    • Situation: This company had been purchased in bankruptcy by an investor and required cash flow for operations.

    • Need: Client needed immediate cash flow for operations and for payment licensing fees.

    • Solution: Within one week Prestige Capital financed the client’s receivables enabling client to pay licensing fees in a timely manner, as well as, provide ongoing cash flow to pay suppliers.