Alex Tovstanovsky, CTP

My firm is a direct lender that provides business lines of credit to companies based on their outstanding accounts receivable. We are the largest Construction Factoring and Accounts receivables financing companies in the Midwest. We specialize in providing working capital solutions for B2B companies with $250K per year or more in revenues.

I help represent over 3,800 licensed independent automobile and truck dealers in the State of Illinois. We are a non-profit organization with a mission to maintain a strong state legislative presence protecting independent automobile dealers from unnecessary legislation, rule making, and promoting legislation which enhances the ability of independent automobile dealers to serve the public fairly and honestly and still maintain a fair profit. I help to develop and offer educational opportunities for members of the association on topics which will enhance their business operations; Provide services support for dealer members; Develop genuinely beneficial, long-term dealer programs which can potentially produce revenue for dealers and the association. Increase positive awareness of the independent automobile dealer industry, nationally and locally, by promoting a positive image of the used car dealer, thereby enhancing the reputation of member dealers The association sponsors regular educational seminars in cooperation with the Illinois Motor Vehicle Department.

I built Prestige Motor Works from the Ground up, with only $1,500 in start up capital in 2007 exclusively as a used car Wholesale Dealer Operation, buying and selling vehicles exclusively for and between licensed car dealers and wholesalers. Over the years we’ve made powerful relationships with large Luxury Dealership Chains, Local Auction Houses, City and Municipal Impound Lots, Banks, and Title Loan Agencies. These relationships have given my company an important advantage over the competition, allowing Prestige Motor Works to purchase the highest quality used cars at prices far below the competition. My father and I still handpick and Inspect every vehicle we buy. Furthermore, as an elected member of The Board of Directors at the Illinois Independent Automobile Dealers Association since January 2011. This title carries with it the honor and dedication to improving the ethics and practices of used car dealerships in Illinois and across the country, promoting common sense legislation which enhances the ability of independent automobile dealers to serve the public fairly and honestly while protecting the consumer. My companies dedication to our Customers, the Local Community, and the Used Car Industry carries with it additional professional, ethical, and moral standards which we use as a benchmark as to how our company and staff does business. Every vehicle at my dealership has undergone and passed a 120 point inspection, qualifying every vehicle for our Extended Warranty Service Plans. The Used Car Market has changed, many dealerships have closed their doors, some are surviving, and a few like Prestige Motor Works are thriving. I understand that a new or used car purchase is often the second biggest investment most people will make in their lives, that is why my commitment to take care of the customer first, profits second has been instrumental in helping us thrive through the toughest economic conditions. GO THE EXTRA MILE, IT’S NEVER CROWDED!