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Prestige Capital Provides $5MM in Working Capital for a Global AV Firm

March 24, 2021, 07:00 AM
Filed Under: Specialty Industries
Related: Prestige Capital

Prestige Capital Finance delivered a $5,000,000 in working capital to an Arizona-based, Audio Visual firm that specializes in designing, building and installing cutting-edge AV systems for auditoriums, corporate boardrooms, classrooms and more. As a result of the pandemic, and the constraints their bank put on their financing arrangement, the firm was seeking a new lender. Prestige was recommended by an industry peer that was not able to provide a solution due to progress billing. With sustained losses as a result of corporations and universities scaling backand a major client pausing AV services, this company was relieved to use the proceeds from Prestige’s financing to pay off the bank and fund future projects.

“Prestige is grateful to our referral partners, including peer organizations that refer clients to us,” said Stuart Rosenthal, President of Prestige Capital. “Throughout the pandemic, we have been able to come up with creative solutions for clients, even those that have been adversely impacted by COVID-19.”

Last year, Prestige Capital funded a record number of companies across a broad range of industries–from PPE supplies to technology and service providers. Prestige delivered tens of millions of dollars to companies during their greatest time of need.

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