Republic Provides a $1.5m Traditional Factoring Facility for a Los Angeles based Apparel Importer
September 26, 2020
September 26, 2020
LOS ANGELES (PRWEB) SEPTEMBER 22, 2020
When a Los Angeles apparel manufacturing and import company sought funding for their 2020 Fall and Winter orders, they chose Republic Business Credit to fuel their growth. Republic approved a scalable traditional facility to support their expected growth in anticipation of the orders they have received for the additional reopening of retail stores. Republic fully approved the customer limits necessary to enable the company to fulfill large purchase orders in the midst of Covid-19. The Apparel company CEO said, “We are excited about showcasing our growing fashion line and wanted a factoring partner that could grow with our brand.”
As the Pandemic has caused postponements, cancellations, and shipment uncertainty throughout the retail supply chains, Republic will support the client throughout this uncertain and unpredictable period in the history of retail. Republic Business Credit provides apparel importers, distributors, and manufacturers with the necessary support and guidance to adapt during the staggered reopening.
The company is a distributor of women’s comfy chic dresses, pantsuits, and skirts that are ideal for either working from home or going out. The brand is focused primarily on manufacturing in the USA and sources nearly all of its material domestically. The passion for the brand comes from a balance of fit and texture for working professional women. The brand is well-positioned for the post-COVID-19 store re-openings as they had no debt entering the 2nd quarter of 2020. The brand sought a partnership with an entrepreneurial finance company with deep industry experience and the ability to scale up its facility.
Republic provided a $1.5m traditional factoring facility with credit protection and extended customer payment terms for a Los Angeles based brand. Republic’s funding will eliminate their cash flow gap between paying suppliers and receiving payments from retailers. The company is unsure what the holiday season will likely bring, but it is confident they have a partner during all of the “return to work” stages. Republic’s COO, Matt Begley said, “We believe our factoring and asset-based lending products will partner well with businesses as states reopen in 2020.” He further added, “We are excited to help all brands on the front lines of supplying store reopening’s and returning closer to our normal lives.”
Republic Business Credit provides factoring, asset-based lending and direct to consumer facilities up to $10,000,000 across the United States. Republic partners with banks, accountants, sponsors, lawyers and investment banks to collaboratively support entrepreneurs across the United States, to create value, by enabling them to focus on growing successful businesses.