Prestige Capital a Fort Lee, NJ-based factoring firm servicing small- and mid-sized businesses, completed three recent transactions for a total of $3 million.

A 14-year-old New York-based construction company received a $1 million line of credit. The company had been renovating new locations for a popular food chain which had always paid them with very short terms. As the retail chain grew quickly and acquired new locations, it was no longer able to pay invoices so quickly. By allowing for payment terms up to 90 days, Prestige provided liquidity on the backlog of receivables to give it the cash flow it needed to pay employees and keep business growing without placing undo pressure on its customer to pay early.

A five-year-old New York-based concrete contractor received $1.5 million invoice financing. This contractor had been using merchant cash advance funds to grow its business and needed to pay off those high-interest rates to become more profitable.

A three-year-old California-based lingerie company received a $500,000 line of credit. This company had previously only sold products online and was approached by the retail community to carry its line in brick-and-mortar stores. It was unfamiliar with retail practices and sought Prestige Capital financing as well as guidance. The company is now able to accept increasing orders from retailers without any interruption and can grow its business in this new space.