Republic Business Credit Structures $4.0 Million Facility for Staffing Business
Republic increased the borrowing ability while lowering costs for a rapidly growing staffing firm experiencing double digit.
CHICAGO, IL (PRWEB) JUNE 13, 2017 – When a large money center bank was unable to approve a sufficient line of credit, the lender tasked Republic Business Credit, to provide the necessary payroll funding for their Midwestern based client. Republic structured a larger, more affordable and shorter term facility for the nearly bankable client, with the ability to graduate back to the referring bank after six months.
The client’s high growth rate required a scalable facility, that maximized their borrowing ability, to fulfill weekly payroll obligations and continued capital investments. Republic’s facility eliminated short term cash-flow fears, while allowing the owners to focus on people and growth.
Republic provided the entrepreneur with a $4,000,000 receivables purchase line of credit, without restrictive covenants of traditional senior debt, to enhance control over their cash-flow.
“Thriving companies occasionally require a solution to assist their immediate growth orientated cash-flow shortfalls, prior to approval by commercial banks,” said Robert Meyers, Chief Commercial Officer of Republic. “Republic is proud to provide client focused solutions that bridge cash-flow gaps for growing companies, without long and punitive contracts, enabling entrepreneurs to create jobs across the country.”
Republic Business Credit partners with banks to collaboratively support entrepreneurs across the United States, to create value, by enabling them to focus on growing successful businesses.