Prestige Capital Provides $1.5MM Factoring Facility to Contract Manufacturer

Prestige Capital Finance delivered a $1.5 million factoring facility to a company that manufactures and packages frozen treats for food and beverage companies. The funds were used to expand this contract manufacturer’s product line.

Initially introduced to Prestige by a purchase order finance company, this New Jersey-based company needed additional support to fund a line of alcohol-based freezer pops for a beverage supplier and distributor. Prestige reduced the purchase order finance company’s exposure and provided additional working capital within a week of the application being completed.

“Prestige is delighted to support contract manufacturers,” Stuart Rosenthal, president of Prestige Capital, said. “With our accounts receivable financing, we can provide fast funding to ensure contract manufacturers meet their clients’ needs in a timely manner.”