Prestige Capital Participates in $1.5MM Funding for Non-Durable Goods Distributor

Prestige Capital Finance participated in funding for a nondurable goods distributor based in Rhode Island. Prestige provided $1.5 million to this New England company as part of a carve out of certain customers from its existing bank.

The company used the proceeds to purchase additional inventory to service a growing list of retailers, including a Fortune 100 chain.

Toilet paper is one of the products the company delivers. Given demand, the company needed fast access to capital. Its bank could not accommodate the full amount within the company’s time frame. However, wanting to ensure the distributor got the capital it needed, the bank worked with Prestige and several other factoring companies to lock in funding.

“We were thrilled to participate in this funding,” Stuart Rosenthal, president of Prestige Capital, said. “We’re doing what we can to help consumers access essential goods during this pandemic. This is just one example of how invoice factoring can make a difference.”

For more than 34 years, Prestige Capital has helped nearly 1,000 early stage and mid-size companies grow or turn around their businesses by providing more than $4 billion in cash advances, converting accounts receivable into immediate working capital.