$ 500,000| Factoring| New York, New York
$ 500,000| Factoring| New York, New York
Client:
NY-based sustainable building system company with $2 million in annual sales.
Situation:
A three-year-old environmentally friendly company had experienced strong growth. Given its short history and inability to show strong financial performance, the company was unable to obtain traditional bank financing. Prestige was introduced to the client by a banker who was unable to provide a loan but wanted to provide banking services to the company.
Need:
The client needed suitable financing to support its growth.
Solution:
Within two weeks, Prestige funded the company’s current receivables with a $500,000 line and wired the funds to a new account opened at the bank that introduced Prestige to the client.
