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Prestige Capital Announces a Participation of $1,500,000
August 26, 2020
Source: Prestige Capital
Continuing its commitment to help during the pandemic, Prestige Capital Finance, LLC recently participated in funding for a nondurable goods distributor based in Rhode Island. Prestige provided $1.5 million to this New England company as part of a carve out of certain customers from its existing bank. The proceeds of the funding were used to purchase additional inventory to service a growing list of retailers, including a Fortune 100 chain.
This distributor delivers name brand toilet paper, among its products. And if there’s one certainty during this pandemic, its consumers’ fear of running out of toilet paper. Given demand, the company was looking for fast access to capital. Their bank was not able to accommodate the full amount within the company’s timeframe. However, wanting to ensure the distributor got the capital it needed, their bank worked with Prestige and several other factoring companies to lock in funding.
“We were thrilled to participate in this funding,” said Stuart Rosenthal, President of Prestige Capital. “We’re doing what we can to help consumers access essential goods during this pandemic. This is just one example of how invoice factoring can make a difference.”
About Prestige Capital
For over 34 years, Prestige Capital has helped nearly one thousand Early Stage and Mid-Size companies grow or turn around their businesses by providing more than $4 billion in cash advances, converting accounts receivable into immediate working capital. Visit www.prestigecapital.com or call 877-944-4455 to learn more.
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