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Prestige Capital Extends $3MM to Expand Education Programming to the Youth of Greater Philadelphia

September 16, 2022, 07:00 AM
Filed Under: Education
Related: Prestige Capital

A Philadelphia-based nonprofit organization offering education programming throughout Greater Philadelphia since 1992 was in the market for a new funding source. Their most recent source of funding went through financial difficulties of its own and was purchased by another lender that didn’t feel comfortable working with nonprofit clients.
The organization’s executive director contacted Prestige and they were able to quickly find a solution to fund more than $2 million in open receivables and pay off the previous lender. “It’s always great to be able to help a company who’s making a difference in their community.”, says Stuart Rosenthal, President at Prestige Capital. “Knowing that invoice financing can be used to make a social impact is very rewarding.”
Prestige was able to pay off the existing lender with the proceeds from the first funding and move forward with a large enough facility to comfortably fund their expected growth. “We tend to have solutions for funding that others don’t offer,” says Christopher Foss, Direct Sales Manager at Prestige Capital. “I like the fact that we can support the growth of organizations that are making a difference.” Access to this funding allowed this nonprofit organization to grow. Now they can serve even more youth with their powerful mission.  

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