Posted on August 9, 2023
New Orleans, LA –
Republic Business Credit is proud to announce it recently provided a $6.75 million factoring legered line of credit facility to a women and minority-owned government contractor, with an accordion up to $10 million.
When the women and minority-owned government contractor secured an additional multi-year contract with the U.S. Department of Defense, the company sought a funding partner that could keep pace with its rapidly expanding needs. The company’s Small Business Investment Corporation mezzanine finance allowed it to refinance its limited ABL loan. Republic was able to help the company refinance that loan while effectively meeting the increased demand of the new contract.
The government distributor designs, fabricates and distributes tool kits. It primarily provides its products to federal government agencies, with a focus on the various purchasing offices within the Department of Defense. The company also provides custom fabrication services to some commercial customers located throughout the southeast region.
“We supply products and toolkits to several federal government agencies, in addition to the numerous other products we provide to our other government and commercial customer bases. The needs of our customer base can ebb and flow depending on the life expectancy of the tools,” the company president said. “It was important for us to find a confident funding relationship. Republic understands our industry and our customers. We are excited to partner with such a dynamic firm that understands the flexibility we need to grow our business.”
Republic structured a $6.75 million factoring line of credit that provided availability on all of the company’s government and commercial accounts receivables, including an accordion up to $10 million. Shortly after extending the funding, Republic added a supplemental $250,000 mobilization facility, which can make the difference for women and minority-owned companies that need to quickly increase production to fulfill a large government contract. The mobilization advance helps accelerate the creation of cashflows because, during periods of growth, profits often lag behind as companies scale quickly.
“We are proud to partner with women- and minority-owned entrepreneurial businesses that have strong, foundational community support and are looking for the right partner to get to the next level and achieve incredible success,” said Republic President, Robert Meyers.
Republic’s Senior Vice President, Leigh Guglielmo, added: “This company provides essential products to the Department of Defense and is a key local supplier in the southeast region that supports our national defense mission across the world.”
“We are incredibly proud of our armed services, and it is an honor to support entrepreneurs that align with our women, minority- and veteran-owned government contractor partnerships,” Meyers said.
“Our unique lending products provide us the ability to truly get to know the businesses with whom we partner, and we are especially proud when we can support diverse, women- and minority-owned companies that reflect our own team,” said Republic CEO Stewart Chesters. “We won the Secured Finance Networks Alignment Award for our performance across Diversity, Equity and Inclusion. It’s great when we can provide that same support across these valuable, thriving communities.”
Posted on August 9, 2023
Los Angeles, CA –
A designer, manufacturer and wholesaler of missy and junior women’s clothes needed a partner — and fast — to meet the shipping needs of its spring and summer collections. The company turned to Republic Business Credit to stitch together the necessary financing.
Headquartered in Los Angeles, the company targets women consumers with a line of clothing sold through several different labels at major retailers including Nordstrom, Stitch Fix, Bealls, Dillard’s and Burlington. The client needed a solution within a few weeks as the contract with the incumbent factoring firm was expiring. The company learned of Republic through a referral.
“Having known this company since its founding more than 20 years ago, it was exciting they reached out to us. Our California team worked quickly to put together the deal for a $6.5 million traditional factoring facility to help build ahead of their busy shipping seasons,” Republic’s SVP, Tae Chung said. “We continue to demonstrate our knowledge and experience in the apparel space, which is rewarding.”
The company specializes in soft knit tops, dresses, cardigans, blouses, pants and skirts.
“As we looked to ship our seasonal collections, we wanted a stable and credible partner,” the company founder said. “Republic was there to help in the moment and will be with us in the future as we grow with our brands.”
Republic’s Executive Vice President Jason Carmona helped onboard the client during the quick timeline.
“With a dedicated Los Angeles team, Republic is proud to support the apparel community and plans to add at least 30 more brands in 2023,” Carmona said. “Being referred into this transaction from several industry insiders is a testament to our support from the community and our momentum throughout the finance and apparel communities.”
“We are committed to supporting brands across various channels of business, and our complimentary product suite of asset-based lending, traditional factoring and e-commerce supports brands throughout their unique growth cycles,” Republic President Robert Meyers said.
Republic partners with accountants, lawyers, private equity, investment bankers, banks, consultants, independent sponsors, Small Business Investment Corporations and other referral partners within the apparel community. Republic supports the working capital needs of companies across the United States with needs up to $15 million.
Posted on August 9, 2023
New Orleans, LA –
When the COVID-19 pandemic slowed sales and disrupted supply chains for a Midwest supplier of pipes, valves and oil transmission products and services, the company and its private equity partner needed a flexible solution. Republic Business Credit provided a $5 million factoring facility with options to offer the best fit. The private equity fund and the supplier chose Republic’s ledgered line of credit that features the pricing structure of an ABL facility.
The solution was quicker and more scalable than an asset-based loan.
“We were still dealing with supply chain issues and preferred the covenant free option that Republic provided in an ABL & factoring option at the same cost. Republic’s flexibility was crucial and allowed us to choose what was best for our unique situation,” the private equity fund’s managing partner said.
The supplier of pipes and valves is based in Kansas City, Mo. Its top three customers are large gas and energy companies. Sales from the three represented 53% of total revenue at FYE 2021. The company provides value-add modifications of valves that are complemented by pipes, fittings and other distributed products to various midstream natural gas customers.
But COVID-19 and the ramp-down of a major project caused the company to seek out unique solutions and a creative finance package.
“We consistently partner with private equity for both of our ABL and factoring solutions,” Republic President Robert Meyers said. “We find that while people might prefer ABL on the surface, in reality they often like the flexibility of a factoring facility when the situation fits. As we continue to build out our suite of products, we are proud to see private equity and independent sponsors represent more than 40% of our clients and believe we are a rare dynamic partner who can provide working capital solutions to most portfolio companies.”
The pipe and valve supplier anticipates its performance will improve as customers order more product, supply chain issues improve and margins increase due to headcount reductions and the renewal of the company’s direct relationship with its main supplier. The company was founded in 1956. In 2016, it filed for bankruptcy. Assets were acquired through a stalking horse bid of approximately $25 million, which was court approved that same year.
The company now operates out of six facilities across the United States.
Republic’s CEO Stewart Chesters said: “We believe our suite of lending and factoring products will be more in demand as companies work through the growing uncertainties of 2023 and beyond. This company is an example of that — how the unique financial products we offer can be a lifeline when traditional banking products aren’t a good fit.”
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.
Posted on August 9, 2023
New Orleans, LA –
When a Gulf Coast-based second-generation food manufacturing company needed more support during seasonal growth periods, the company’s commercial banker sought a better partner for a line of credit that would allow the referring banker to maintain treasury management. Republic Business Credit stepped up to provide a $6.5 million asset-based loan with a seasonal uplift.
The food manufacturing company provides food, packaging and distribution services to grocery stores, schools, hospitals and commercial customers located throughout the Gulf region.
“We supply wholesale restaurant equipment and other products to our growing customer base, and their needs can ebb and flow depending on the season,” the food manufacturing company president said. “It was important to us to find a confident bank relationship. Republic stepped up and partnered with us in areas where we needed flexibility.”
Republic extended a $6.5 million asset-based loan that provided availability on the food distributor’s accounts receivables and inventory. The facility provided for a seasonal uplift and significantly more availability during the ramp up and low season period. Not only was Republic able to provide a dynamic ABL loan, but the referred commercial bank was able to retain all of the treasury services and keep the customer.
“We truly enjoy partnering with entrepreneurial businesses that have strong foundational community support and provide an important service,” Republic President Robert Meyers said. Republic’s SVP, Leigh Guglielmo added “This company provides food and products to a vital industry throughout the Gulf Coast that includes schools in the region, ensuring kids are protected against food insecurity.”
Republic’s food clients work in the confectionary, snack, condiment, sauce, ingredient, grain, bakery, desserts, cakes, canned, smoked, frozen, and dried industries. Beverage clients include soft drinks, juices, coffee, tea and other instant beverages. In 2022, Republic was a proud sponsor of the Houston Food Bank.
“Republic is proud to support the food manufacturing company today and in the future as acquisition opportunities present themselves and funding needs grow toward $20 million,” Meyers added.
“Our unique lending products provide us the ability to truly get to know the businesses with whom we partner, whether they are private equity supported or entrepreneurially owned,” Republic CEO Stewart Chesters said. “We’re excited to support the growth ambitions of our new and lasting clients.”
Posted on August 9, 2023
New Orleans, LA –
As more of the professional workforce returns to the office post-pandemic, the demand for comfortable chic clothing for women is on the rise. Rejoining the office environment means ditching yoga pants and sweatshirts, and replenishing closets with pant suits, dresses and blazers.
Recognizing this increased consumer interest, Republic Business Credit worked with a distributor of women’s apparel to help restock stores that are re-opening with more clothing options and supplies. The brand is focused primarily on manufacturing in the United States and sources almost all of its materials domestically. The brand is well-positioned, as it had no debt entering the second quarter of 2021.
Republic provided the company with a $1.5 million traditional factoring facility with credit protection and extended customer payment terms. The funding eliminated the distributor’s cash flow gap between paying suppliers and receiving payments from retailers.
“We believe our factoring and asset-based lending products partner well with businesses in this sector as the economy moves back toward a growth track. We’re excited to help all brands on the front lines prepare for future growth,” Republic’s President, Robert Meyers said.
As the pandemic caused unexpected shipment problems, delays and cancellations, Republic’s clients needed support to bridge gaps in postponements and uncertainty in supply chains. In apparel, Republic provides importers, distributors and manufacturers with the necessary support and guidance to adapt to staggered re-openings.
Republic provides factoring, asset-based lending and direct-to-consumer facilities across the U.S. up to $10 million. Republic partners with banks, accountants, sponsors, lawyers and investment banks to collaboratively support entrepreneurs and create value by enabling them to focus on their businesses.
Posted on September 7, 2022
Houston, TX – When two Austin, Texas-based entrepreneurs identified an underserved opportunity within the healthcare staffing industry, they sought the payroll funding expertise of Fast AR Funding’s dedicated working capital team. With the COVID-19 pandemic creating high demands on health care systems across the country, the need for nurses willing to travel to hotspots greatly increased.
The entrepreneurs needed to focus on growth, not payroll constraints. Fast AR Funding, a program of Republic Business Credit, provided a $400,000 growth-orientated selective factoring solution with a high advance rate to jumpstart the company’s founding. The partnership with Fast AR and its decade-long track record of flexibility enabled the company to address market and customer needs without having to worry about how fast they were growing.
“Fast AR Funding provided a dynamic solution to our biggest fears about meeting our growing payroll needs, cashflow issues and meeting our customer demand,” the staffing company president said. “Fast AR Funding’s selective invoice financing and no term contract was just what the doctor ordered. It provided us with the true freedom to focus on growth.”
The upstart company provides temporary and permanent employees to hospitals and medical centers located throughout the southwestern United States. Since the start of the pandemic, both urban and rural areas faced staffing challenges and needed quick solutions. Traveling nurse programs have exploded as a result. The upstart has already tripled its forecast so far in 2022 and sought an increase in its factoring facility to $1 million. Fast AR is the company’s chosen product over other alternatives.
Fast AR provides a scalable, selective factoring facility with a seamless online application and technology-enabled approval process. It allowed the initial funding to flow within 48 hours of receiving the first invoice. The facility allows the client to submit invoices from specific customers that they needed to provide funding for a growing payroll without the hassle of minimum sales volumes or long-term contracts.
Republic’s VP of Business Development, William Kemp, said: “Entrepreneurs in the temporary staffing business, especially healthcare, have limited options of financing to support their growth.”
“The exponential growth potential of staffing firms makes it difficult for them to obtain traditional bank financing. Factoring works seamlessly as they grow and develop,” Republic CEO Stewart Chesters said.
Fast AR Funding supports staffing, transportation, manufacturing, distribution, food, beverage and distribution companies located throughout the United States.
Posted on September 7, 2022
Los Angeles, CA – With outdoor spaces and upscale gardens a consistent but seasonal consumer demand across the country, a Midwest-based manufacturer of unique outdoor products knew it needed to find a flexible partner to react to dynamic and volatile market conditions. Republic Business Credit was the answer. Republic implemented a flexible line of credit to support the company’s seasonal-based liquidity needs.
“Shortly after funding, we adjusted our sales forecast up by 50% for the spring and summer. Thankfully, Republic immediately worked with us to upsize the facility in less than a week,” the company CFO said during the first month of the relationship.
Despite having been in business for more than 30 years, the manufacturer of various wood, tree, garden, and plant-based products sought more flexibility from its senior debt lender to better prepare the company for surges in consumer demand. The company was seeking a senior lender who understood the opportunities and risks inherent in seasonal businesses.
The company services large outdoor retailers, regional distributors, and mom-and-pop hardware stores throughout the country. Demand for products shifts regionally where planting seasons, clean-up seasons, and weather can have a big impact on cash flow and working capital requirements. The company needed to refinance its existing bank line of credit to support its growth.
“We needed a proactive financing source that could react decisively and consistently during an uncertain economic period. We know that Republic will partner with us on the short term and long term needs of our manufacturing company,” the company CEO said.
Republic provided a $4.5 million ledgered line of credit facility secured by accounts receivables, inventory and equipment that injected significant working capital and stability during seasonal periods. Republic was introduced to the opportunity from a large commercial bank that wanted to provide the treasury management services — but was unable to approve a large enough line of credit during the seasonal periods.
“We are well positioned to support manufacturing and other seasonal businesses that need a dynamic working capital partner,” Republic President Robert Meyers said. “Our underwriting team worked with the company to structure a growth-orientated facility that amended a facility limit increase shortly after the initial funding.”
Republic plans to continue growing with the client.
“We believe our suite of lending products provides us the ability to truly get to know businesses, whether they are private equity supported or entrepreneurially owned. We are excited to support the growth ambitions of our new manufacturing client,” Republic CEO Stewart Chesters said.
Posted on September 7, 2022
Los Angeles, CA – When a portfolio company of a California-based private equity firm sought to refinance and upsize its existing asset-based lending facility, the company partnered with Republic Business Credit. Republic provided a scalable, flexible, and growth-orientated $5 million credit facility with full availability on retail inventory, wholesale inventory, merchant accounts, and direct-to-consumer proceeds.
The company is a national confectionary manufacturer that goes to market through a diverse omnichannel approach. The company interacts with customers across its large retail, e-commerce, direct-to-consumer, and wholesale footprints. The company positions itself as a market leader in a very high-margin business with seasonal upticks around holidays such as Easter, Valentine’s Day, Mother’s Day, Halloween and others. While many seasonal businesses have slower periods, the company’s retail strategy enables it to succeed during the non-peak season due to high-traffic locations.
A California-based private equity firm acquired the confectioner and sought a new lending partner to complement its experienced management team and growth strategy. The company sought additional support for its 50-plus retail storefronts and more investment in eCommerce opportunities as it emerged from the pandemic.
“Shortly after acquiring the company, we naturally needed to refinance our current balance sheet with better senior debt terms but more importantly, identify a partner who would execute our strategy together,” the managing partner of the private equity fund said.
While the pandemic presented a foot traffic challenge, the private equity firm and a strong management team at the confectioner leveraged the opportunity to strengthen storefront leases and expand into high-growth areas around the country. The company provides world class products across its chocolate, bakery, candy, and branded products, as well prepackaged offerings.
Republic provided a $5 million direct-to-consumer asset-based loan that increased availability across the confectioner’s warehouse and retail inventory locations. Republic worked alongside the private equity sponsor and management team to build covenants that addressed the seasonality of the business while recognizing the significant capital contributions already invested toward the company’s success.
Republic provided more availability, cheaper pricing and a better utilization-based fee structure in the hope of reducing borrowing costs during off season periods.
“As the private equity firm was evaluating new lending relationships, they were impressed with our valuable insight and experience in the consumer products industry,” said Robert Meyers, president of Republic Business Credit. “We took the time to truly understand their confectionary seasonal business model and structure a customized credit facility to meet their borrowing needs.”
Jason Carmona, Republic’s EVP, Western Regional Manager, said: “We are pleased to build on the successful turnaround story and provide the necessary credit facility to further expand the company’s retail, wholesale and eCommerce business strategy. We are excited to support the continued growth of the company in years ahead and to continue assisting with additional portfolio companies of the private equity group.”
Posted on September 7, 2022
New Orleans, LA – When a Gulf Coast-based, private equity-owned oil field services company chose to refinance its bank line of credit, its leaders tapped the oil field expertise of Republic Business Credit.
The oil field company nearly sought Chapter 11 bankruptcy protection during the recent energy downturn; its private equity partner committed to the company’s future by providing a substantial equity and subordinated debt contribution as a bridge. But they still needed a senior partner who could be flexible.
“Republic was an easy decision, given the firm’s long-standing customer relationships, niche market, and sophisticated management team to continue our support,” the company’s managing director said. “While the private equity fund stepped up, the team needed a more agile debt partnership for the resurgence.
“Republic has funded several of our portfolio companies in the past few years. With an already agreed set of documents, we confidently and easily executed the closing process,” the managing director added.
The company and sponsor sought a growth-orientated ABL facility that would support future growth plans. Republic understood its business and provided industry expertise.
An oil field service and products manufacturer that supplies large energy production and refinement companies throughout the Permian and Eagle Ford basins, the company needed to refinance its existing bank line of credit to access its full availability while providing sufficient liquidity to scale the business back up during the energy recovery. The company specializes in equipment rental, completion services, pressure, and manufactured wellhead products.
The company president said: “We needed a senior debt partner who could react decisively and consistently and who viewed us as a trusted partner in our growth strategy.”
“Republic has demonstrated unique expertise in our industry time and time again while delivering on its promise of providing a unique facility for each of our structured credit and portfolio companies,” a founding partner of the private equity firm said.
Republic Business Credit provided a $3.5 million asset-based loan facility secured by accounts receivables, inventory and equipment that refinanced the company’s incumbent bank lender while providing significantly more borrowing base liquidity at closing. The company closed the senior debt facility with Republic during the third quarter of 2021 and has outperformed its budget every month since closing.
Republic was introduced to the opportunity directly from the private equity fund as a result of Republic’s reputation within the private equity community for lower and middle market, sponsor-owned ABL facilities.
“We continue our focus on providing ABL, direct to consumer loans and factoring to private equity portfolio companies across the country,” Republic President Robert Meyers said. “Our team worked with the company to structure a growth-oriented facility that provided significantly more liquidity to enable the management team to focus on growth.”
Republic CEO Stewart Chesters added: “Since our founding, we have always been committed to providing broad and inclusive access to working capital for lower and middle market companies that seek a better partnership than a traditional bank loan structure will provide.”
Republic Business Credit 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.
Posted on September 7, 2022
Houston, TX – With traditional work routines reexamined and overhauled due to the COVID-19 global pandemic, employers around the world need help from temporary staffing agencies to fill gaps in their workforce and delivery systems. Republic Business Credit was there to support a multinational staffing and consulting company meet the demand in the U.S.
Republic’s Fast AR Funding provided a $500,000 selective factoring facility in less than a week that allowed the client, with a newly established subsidiary in the Northeastern United States, to confidently place new, temporary hires the following week.
The multinational, specialist IT staffing and consulting company provides temporary placement of qualified cloud and data specialists to Fortune 500 companies. The company prides itself on finding highly skilled, dependable, and best-in-class temporary staff and project-based consultants. The ability to provide shorter-term and longer-term placement options provide flexibility for their clients.
And with traditional working routines uprooted over the past few years, the demand for skilled workers with expertise in remote and hybrid systems-based work is on the rise. The company needed Republic’s support and a quick turnaround.
“The number of applications, interfaces, systems, and cybersecurity worries have grown exponentially in the past few years. Our clients are excited about our ability to bring a dynamic and agile workforce to the growing complexities of information technology,” the parent company’s CEO said. “Fast AR’s team truly were experts in the temporary staffing space, providing a lot of comfort that they understood our business and could scale quickly with our plans.”
Fast AR bridges the payroll and working capital gap that exists for every staffing firm between the time the invoice is created and months later when payment is received from the customer. Fast AR provided a selective factoring facility with a seamless online application process.
The staffing company had built successful operations throughout the U.K. and Europe and wanted to expand operations in the U.S. The need for talented temporary workers was so great, that the firm almost immediately identified additional customers.
Fast AR established the $500,000 selective factoring facility quickly, building confidence toward the company’s ability to build and scale in the U.S. Fast AR allows clients to submit invoices as needed for payroll funding without any restrictive minimums or contract terms. Clients can choose the flexibility, speed, and responsiveness of Fast AR over factoring alternatives.
“Selective Factoring is a dynamic and quick solution for entrepreneurs in the temporary IT staffing space,” said Republic’s Vice President of Business Development, William Kemp. “Our flexible approach allows businesses to focus on growth while not worrying about their working capital.”
President Robert Meyers added: “Fast AR is a fantastic way to support startup and early-stage entrepreneurs, and we have the capability to grow with them into larger factoring facilities, ledgered lines of credit, and asset-based lending products as they mature.”
In addition to temporary staffing companies, Fast AR Funding supports entrepreneurs in transportation, food, beverage, manufacturing, and distribution across the country.
Posted on July 11, 2022
LOS ANGELES – When a Los Angeles-based consumer packaged goods distributor sought funding to underpin its initial growth for spring orders, the company selected Republic Business Credit. Republic approved a scalable, traditional factoring facility to support the accessory company’s expected growth, fulfill initial orders and provide cushion for summer demand.
Republic fully approved the client’s limits for both standard and extended terms up to 120 days that were necessary for the emerging company to sell into major stores during the initial phase of growth.
“We are excited about showcasing and delivering our growing line of products. We needed a trusted factoring partner who could grow with us,” the accessory company CEO said.
As supply chain challenges show no signs of abating anytime soon, Republic continues to support its clients through postponements, delays and delivery date uncertainties experienced throughout retail supply chains. Supply chains are tough for all companies, but they are especially challenging for those in the initial growth stages of development. The Los Angeles company is a distributor of watches and other accessories, covering the dress, field, pilot, dive and racing-driven consumer products. Within those watch and accessory categories, there are significant brand names that additionally differentiate across the movements in mechanical, automatic and Quartz.
The founder of the company is passionate about watches and other accessories. “We have come a long way from the old days of the pocket watch; however, the secondhand and resale watch market is an exciting, growing category of fashion. We needed a partner who understood the industry and was excited about our category.”
Republic provided a $1.25 million traditional factoring facility with credit protection and extended customer payment terms. Republic’s funding will eliminate the nascent company’s cashflow gap between paying suppliers and receiving delayed payments from major retailers. The company is confident it found a trusted and consistent partner to overcome supply chain challenges.
Republic Business Credit COO Matt Begley said: “We believe our factoring, asset-based lending and direct to consumer products partner well with growing businesses that need industry expertise and adaptable partners. We are excited to support growing brands and are passionate about the watch and accessory categories to supplement our apparel and textile factoring business.”
Republic has proudly supported clients throughout this uncertain and unpredictable era in retail. Republic provides importers, distributors and manufacturers with the necessary support and guidance to adapt to the mix of opportunities and challenges that lie ahead.
“Since joining Republic during early 2020, we have expanded our capabilities and added clients at a lightning pace who want great client service, in addition to their working capital needs,” said Tae Chung, SVP of Business Development.
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.
Posted on July 11, 2022
New Orleans, LA – When a California-based internet retailer and software company sought to refinance its existing bank facility, it chose Republic Business Credit.
Spiraledge, a leading internet retailer and healthy living company headquartered in Campbell, Calif., with offices in Cincinnati, Ohio, and Ho Chi Minh, Vietnam, sought a partner to leverage its internet retail and e-commerce strategy. Republic Business Credit provided a scalable, flexible and growth orientated facility to maximum availability on inventory, merchant accounts and direct to consumer proceeds.
Spiraledge welcomed the opportunity to borrow on inventory without a sublimit or cap in relation to accounts receivable that a traditional asset-based loan might include.
“We needed a strategic partner who understood our internet retail strategy and trusted our team to deliver on our growth expectations,” said Avraham Benaroya, Spiraledge founder, and CEO.
Spiraledge’s businesses include SwimOutlet.com, the largest online swim retailer; EverydayYoga.com, the web’s fastest growing yoga retailer; Swim.com, a digital swim training, and workout platform; and Tend.com, the first software platform of its kind with powerful tools for managing a diversified, sustainable farm.
The CFO of Spiraledge, John Gilchrist, said: “Coming out of the pandemic and preparing for the Summer Olympic Games in Toyko, we sought a partner to support our seasonal inventory purchases. Republic understood our business and was committed to our vision of providing the perfect online shopping experience for our customers.”
“Spiraledge is a great addition to a growing portfolio of brands, and the company is a well-run, mission-orientated direct-to-consumer internet retailer that delivers for its customers,” Republic COO Matthew Begley said.
Republic provided an $8 million direct-to-consumer inventory loan facility that provides significant availability on Spiraledge’s inventory, accounts receivables, merchant accounts, and e-commerce related proceeds. Republic’s funding refinanced Spiraledge’s existing bank facility while providing significant additional liquidity for future growth.
The Spiraledge team believes the market will continue to expand as outdoor activities and customers continue to focus on living healthy. The company is excited about having a supportive partner to help buy inventory and deal with supply chain headaches ahead of seasonal swings.
“We enjoy partnering with great founders and strong CFOs who see value in non-dilutive debt financing to support their growth,” said Robert Meyers, President of Republic Business Credit. “We have built our platform to help support companies that need a mix of scalable, growth-orientated solutions across our asset-based lending, direct to consumer and factoring products.”
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.
