Prestige Capital Finance, closed a $2 million factoring arrangement for a California-based plant farm, specializing in potted and indoor blooming plants. The proceeds from the factoring arrangement will be used to help this grower expand its footprint in home centers across the United States.
“The funding of this plant farm is a continuation of our commitment to healthy living and the type of funding that we are doing during the pandemic,” Stuart Rosenthal, president of Prestige Capital, said. “Over the past several months, we have provided millions of dollars to a range of companies that are focused on nourishing the body and the mind.”
Originally slated to receive funding from another factor, this plant farm was referred to Prestige by an inventory lender who realized that Prestige was a good fit for this fast-growing company. Once the application was received, Prestige Capital was able to deliver financing within two weeks to help the company grow.
For more than 34 years, Prestige Capital has helped nearly 1,000 early stage and mid-size companies by providing more than $4 billion in cash advances, converting accounts receivable into working capital.