Working Capital
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.
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Massachusetts Toy Company
$ 2,000,000
Consumer Products
MassachusettsClient: 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.
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New York Watch Company
$ 2,000,000
Consumer Products
New YorkClient: 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.
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New Jersey Manufacturing
$ 200,000
Manufacturing
New JerseyClient: 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.
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New York Truck Repair
$ 200,000
Automotive
New YorkClient: 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.
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Washington Personnel Agency
$ 2,000,000
Service Providers
WashingtonClient: 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.