A measure of both a company’s efficiency and its short-term financial health, working capital is the cash a business requires to fund day-to-day operations. At times, working capital constraints occur due to rapid growth, seasonality, delayed customer payments and other unexpected events. Factoring provides immediate access to cash for business owners.
Georgia Accessory Company
Client: Georgia Accessory Company
Situation: This client received a large order to have his product featured in a subscription based delivery box.
Need: Since this order was much larger than his typical volume, the client needed to monetize the invoice in order to pay his supplier in within terms.
Solution: Within a week, Prestige was able to finance this single debtor account and paid his supplier promptly.
Boston Technology Company
Client: Boston Technology Company
Situation: The client’s business was growing rapidly as his business was in the rapidly growing sector known as IoT (internet of things).
Need: As additional restaurants were signing up for the client's services, the company realized that their existing financing was insufficient for such rapid growth.
Solution: By partnering with Prestige Capital, he was able to keep cash flow steady and sign on new accounts at a rapid pace. This was done without seeking additional equity, which would have required substantial time and energy during this fast-paced sales cycle.
North Carolina Men’s Grooming Tool
Consumer ProductsNorth Carolina
Client: North Carolina Men’s Grooming Tool
Situation: This company experienced a sharp increase in sales after exposure on a television program.
Need: The client needed liquidity to support their rapid growth.
Solution: Within two weeks, the client financed their receivables, providing their factories comfort to continue to shipping rapidly during a period of growing volume.
Georgia Hair Accessory Company
Client: Georgia Hair Accessory Company
Situation: This company won an award as best new retail product and was awarded wide distribution in all regions of the chain.
Need: The client needed immediate cash flow to pay their suppliers in a timely manner.
Solution: Within two weeks, the client was able to factor their invoices enabling them to pay their supplier in a timely manner.
California AI Company
Client: California AI Company
Situation: The client needed liquidity in the 4th quarter to pay suppliers during their busy holiday season.
Need: The client was actively seeking an increase in their bank line to support their growth, however, the bank was not comfortable giving a line increase at this time.
Solution: Prestige was able to work with the bank in a carve out situation, to finance the client’s largest retail receivables to provide liquidity to pay their suppliers in a timely manner.