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.
Massachusetts Toy Company
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.
New York Watch Company
Consumer ProductsNew York
Client: New York Watch Company
Situation: Company was seeking immediate cash flow during their busy fourth quarter.
Need: Since their bank was unable to provide a loan, an introduction to Prestige was made to provide invoice financing.
Solution: Within one week the client financed $1,000,000 of receivables enabling them to pay their suppliers in a timely manner.
New Jersey Manufacturing
Client: New Jersey Manufacturing
Situation: Company wanted a fast, simple credit line that was accessible when needed.
Need: On occasion the customer experienced demand spikes. They needed a facility in place to handle an immediate need for capital.
Solution: Prestige Capital’s flexibility allows for no minimum borrowing requirements, quick closing speed, and a nominal fee to close.
New York Truck Repair
Client: New York Truck Repair
Situation: Company had a significant growth with one customer.
Need: Customer created a strain on the company’s cash flow due to a significant increase in volume. Customer was unable to buy materials needed to service the customer in an efficient manner.
Solution: Prestige Capital was able to fund the customer’s receivables even though they had a huge concentration with the one customer. Prestige Capital’s flexibility enabled us to fund receivables of customers that have large receivable concentrations.
Washington Personnel Agency
Client: Washington Personnel Agency
Situation: Company was young and did not have an extensive credit history. Although the customer had a line of credit, the bank was unable to increase their current credit line to finance their growth.
Need: Company was not able to raise enough capital to fund their payroll. They needed a rapid solution to obtain access to a significant amount of funds in order to finance their rapid growth.
Solution: Prestige Capital was able to step in and provide a credit line, which was significantly larger than what their bank was willing to provide.