Prestige Capital provided a $7.5 million line to a Salt Lake City-based artificial intelligence company that faced a funding roadblock during a four-month engagement with a potential funding source.
Prestige Capital provided $1.5 million in working capital to support a New Jersey-based security company’s expansion efforts.
Mark J. Simshauser joined Prestige Capital as senior director for the Northeast. He will be responsible for building and driving business development throughout the region.
Prestige Capital provided a short-term bridge solution in the form of invoice financing to a U.S.-based beverage company as it awaited the completion of due diligence and underwriting by its asset-based lender, a process that would take roughly 60 days.
A Southeast-based subsidiary of a European holding company was introduced to Prestige Capital by one of its premier referral sources seeking a solution to expand its call center operations and repay some of its intracompany advances.
Prestige Capital provided a $1 million credit line to a CBD wellness company that needed growth capital.
Prestige Capital provided $3 million to a Philadelphia-based nonprofit organization offering education programming throughout greater Philadelphia.
Prestige Capital expanded by hiring Umberto G. DiStefano as sales director for the Mid-Atlantic region. Umberto was previously a product manager at Coface North America, where he sold insurance products to small and medium-sized businesses
Prestige Capital led a syndicate of finance companies in increasing a West Coast staffing company’s credit line from $24 million to $100 million. The syndicate included Rosenthal & Rosenthal, Lenders Funding, Sterling Commercial Credit and Great Elm Capital.
Prestige Capital provided $2.5 million in funding to a California-based private-label organic baby food manufacturing and co-packer.