Republic Provides $3.5 million Working Capital Facility for Mid-Atlantic based Manufacturer
Republic Business Credit funds growth with comprehensive asset based facility
New Orleans, LA (PRWEB) August 15, 2014 – Republic Business Credit announced today that it has supported a Mid-Atlantic based business with a $3.5 million asset based facility encompassing accounts receivable and inventory.
The long established business had been going through a restructuring process to create a sound basis upon which to achieve its future strategic goals. Republic Business Credit put in place a comprehensive financing package to facilitate the realignment and to simultaneously provide the financial capacity for future expansion.
“We have the experience and resources to structure broad asset based facilities which give businesses the confidence that they can successfully navigate a business change process while also accessing an adequate financial cushion for subsequent growth,” said Stewart Chesters, Republic Business Credit’s chief operating officer. “The majority of businesses in the manufacturing sector operate in an extremely competitive environment. They need flexible solutions with a covenant free structure that focus on leveraging total asset value so that sufficient funding is consistently available for the successful execution of plans in order to ensure future growth.”
Republic Business Credit provides asset based facilities, including ABL, receivables purchase lines of credit and factoring facilities, inventory, equipment and purchase order lines to provide working capital for rapidly growing, turnaround and start-up companies. Facilities can range from $100,000 to $10 million.
Republic Business Credit is targeting a variety of industries, including manufacturing, energy, oil and gas service companies, apparel, temporary staffing, automotive, distribution, transportation, food distribution, safety and security, government contracting, marine, printing and others.