Republic Funds $3.0 million Non-Recourse Factoring Facility for Men’s Apparel Company

NEW ORLEANS (PRWEB) OCTOBER 26, 2018

When a New York based investment bank referred over a recently closed buy-side engagement, Republic Business Credit provided a non recourse facility to help the company realize its quadrupling revenue growth strategy over the next 12 months. The client sought its first debt facility from a partner that knew the apparel industry, its current landscape and who would enable the business to lean into its likely success being a wholly “Made-In-USA” manufacturer.

The client is a men’s apparel manufacturer that provides wholesale and private labeling to both large and independent retailers throughout the US. The Non-Recourse credit protection was important to the client as the daily trends in the retail industry can cause additional concerns for manufacturers with long lead times. The client needed to leverage their outstanding purchase orders and inventory to help fulfill the backlog in 2018 and 2019. Republic met this need by providing a flexible seasonal overadvance on their confirmed orders to help keep pace with their demand. The client is a long-tenured brand that was recently acquired in the Mid-South region to compete with the traditional East & West Coast providers.

Republic provided a $3.0 million non recourse factoring facility and alongside a $400,000 inventory facility to support their growth forecast. Republic will also provide a seasonal overadvance against their backlog and confirmed purchase orders in the late-winter to prepare for spring shipments.

“We are proud to support US based manufacturing companies that provide an excellent product into major and independent retailers,” said Robert Meyers, President of Republic. “As a commercial finance company, we are excited to assist companies that support jobs in the southern region. We have strong relationships in the manufacturing and apparel arena, and our partners trust us to provide the correct growth capital facility for their clients.”

Republic Business Credit partners with investment banks across the United States to create value, strengthen relationships and provide complementary services to successful growing businesses.