A New Jersey-based manufacturer of bed frames has secured a $3 million invoice financing facility from Prestige Capital to support working capital needs as the company navigates a period of operational and financial recovery. Faced with significant revenue disruption stemming from circumstances outside its control, the company required a financing partner willing to look beyond recent financial performance and focus on the underlying strength of its business and receivables.
“Sometimes, strong businesses face extraordinary setbacks that have nothing to do with the quality of their operations or their customers,” Rachel Hersh, sales director, North America at Prestige Capital, said. “Our job is to look past the noise and focus on what matters: the receivables. This manufacturer has a real business with real customers, and we were glad to step in with a solution that gives them a genuine path forward.”
With Prestige Capital’s financing in place, the company is positioned to restore operational stability, meet customer demand and continue its recovery, with the working capital flexibility needed to move forward with confidence.
