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. The beverage company came to an agreement with the asset-based lender after its bank could no longer support the business when its inventory needs grew beyond the bank’s lending formula.
“Invoice financing can act as a bridge to an asset-based lender, particularly in time-sensitive situations. With our ability to close deals in just five to seven business days, we are often relied upon to support various types of time-sensitive scenarios,” Rachel Hersh, sales director in North America at Prestige Capital, said. “This deal showcased how invoice financing can foster mutually beneficial outcomes.”
