Posted on October 28, 2024
LOS ANGELES –
When a California-based natural food manufacturer outgrew its small business loan, it sprang into action through a new partnership with Republic Business Credit. Republic was introduced by a lower middle market debt advisor in the natural food industry to help the company navigate this exciting period of growth.
The company manufactures all-natural almond butters and other almond products that are sold through various retail channels, including Amazon. Initially launched as an alternative to peanut butter for children, the company now works with local almond growers to offer powdered almond butter, almond flour, bagged almonds and snack packs to a wide array of consumers.
“It can be difficult as an early-stage company if you don’t choose the right partners,” said Jason Carmona, EVP Western Regional Manager at Republic. “We transformed a challenging situation into a positive outcome for our client by swiftly developing a plan that ensured the seamless fulfillment of all outstanding orders.” Carmona further added, “We believe in the company’s purpose and are happy to help keep this flourishing product on the market.”
Republic provided a $1,250,000 factoring facility to support the manufacturer’s future growth plans. In addition to providing the ability to rapidly scale to meet customer demand, Republic provided funding for the company’s extended term customers with up to 120 days of eligibility. Additionally, Republic was able to waive the personal guarantee requirement due to the single-family ownership.
“From the beginning, this company exemplified the entrepreneurial spirit of a growing business in the exciting natural food space,” said Robert Meyers, President of Republic. “We are proud to partner with this company and support its future financial success.”
Posted on October 21, 2024
HOUSTON –
Following a period of rapid growth, a Texas-based solar panel installation company sought a long-term funding partnership with Republic Business Credit. The company’s founder said, “We needed a team with expertise in the energy industry combined with the long-term ability to scale with our business. Republic has that industry knowledge and vital flexibility.”
Texas boasts one of the highest rates of solar installation in the United States. This trend is forecasted to continue well into the 2030s. The company provides a mix of residential and commercial solar solutions throughout Texas and expects to expand into additional states in the Gulf Coast region.
Republic SVP, William Kemp shared, “Rapid growth periods are very exciting for any company. “Having the proper financing in place from the beginning gives the company’s leadership the ability to focus on how best to manage this growth to achieve positive, long-term results.”
The $3,000,000 factoring facility provided accounts receivable funding unique to the company’s business model. The terms of the factoring agreement are structured similarly to an asset-based loan, as the company is only being charged on their utilization of the facility. The adjustment will allow company executives to focus on core business operations while achieving their aggressive growth targets in the upcoming quarters.
“This is the perfect example of how we provide rapidly growing companies with working capital freedom,” stated Robert Meyers, President of Republic. “We tailored a private credit solution to support the company’s long-term growth goals and enhance the positive effects on Texas’ economy though the workforce and energy solutions this company provides.”
Posted on September 23, 2024
LOS ANGELES –
A California-based, national staffing firm wanted a new financing partner after its incumbent bank opted not to renew its current line of credit due to the size of the credit facility, as the bank chose to focus on mid-market clients.
The company hired a well-respected industry investment banker who selected Republic Business Credit as the best partner to support the payroll needs of the temporary staffing company. Republic refinanced the incumbent regional bank while increasing the company’s access to working capital.
The staffing agency provides staff augmentation, rapid team expansion and comprehensive, temporary project management for Fortune 100 firms across the U.S. It specializes in highly-skilled, temporary staffing across the administrative, project management and technology enhancement industries.
“The temporary staffing industry is known for requiring payroll funding to support cash flow,” said Jason Carmona, EVP. “Since we provided the initial funding, financing is no longer a concern. The company’s founders have been able to focus on growing the company and the future is limitless for them.”
Republic provided a $1,500,000 asset-based loan with an elevated 90% advance rate on their accounts receivables. Additionally, Republic added on an accordion that could scale up to $5,000,000, which supported the company’s focus on growth.
“Our expertise in temporary staffing agencies allowed us to provide an asset-based loan instead of a ledgered line of credit or factoring facility,” stated republic President, Robert Meyers. “Utilizing our talented team, including our in-house heads of field exams and legal, we were able to significantly reduce the costs of setting up an asset-based loan for the entrepreneurial-owned staffing company. We set our customers up for success from the beginning, and we are proud to have achieved that again through this latest partnership.”
Posted on September 16, 2024
NEW ORLEANS –
After achieving success and notoriety through excellent service to its residential community, a Southeastern-based HVAC company sought the opportunity to grow with several large, commercial facilities. The company did not have a working capital facility, so it called Renasant Bank.
Renasant Bank in Alabama introduced Republic Business Credit to provide a growth orientated factoring facility secured by accounts receivables to increase the company’s access to working capital.
The company was facing two critical factors in determining the best financing solution. First, the company was still in its early, high-growth startup stage, which typically makes it more difficult to obtain a traditional bank loan. Secondly, the company’s commercial accounts were asking for extended terms of Net 60 and Net 75 days in exchange for significant commercial contracts.
Republic provided a $750,000 factoring facility that advanced up to 90% of its accounts receivables and provided eligibility across its extended payment term customers.
“Republic specializes in providing factoring facilities to rapidly growing companies that need to accelerate their working capital through receivables factoring,” stated Brian Daray, SVP, Underwriting Manager. “Thanks to the close relationship between the company’s financial advisor and Renasant, Republic was a natural choice for its first financing facility.”
Since providing the ledgered line of credit facility over the summer, the company recently executed additional commercial contracts that will allow it to more than double its business during the second half of the year.
“Our relationship with Renasant has provided tremendous opportunities to partner with companies that might not fit a traditional bank loan structure,” said Republic President, Robert Meyers. “We look forward to providing more creative solutions across the Southeast and the entire country with our national platform.”
Posted on August 26, 2024
NEW ORLEANS –
When a third-generation, family-run food manufacturing company sought to refinance their incumbent regional bank, they chose the local, gulf coast experts at Republic Business Credit to refinance their line of credit. Republic was introduced by food and beverage industry leaders that believed Republic’s experience in the food manufacturing industry would enhance the long-term success of the partnership.
The company focuses on large-scale food manufacturing and milling for several Fortune 100 food manufacturing companies while supporting the healthily eating goals of local governments, cities and parishes.
The company’s management team focus on relationships, local connectivity and matching values with its generational history. They found a perfect match with Republic’s CEO, Stewart Chesters and SVP Business Development Officer for the New Orleans region, Leigh Guglielmo. The company’s chairman added, “Throughout our history, the alignment of our values with those of our partners has helped define our relationships and provided the foundation for success across our lending relationships.” She further added, “Republic is uniquely headquartered in Louisiana while being a national commercial finance company, which shows us they are committed to our community and building relationships from the ground up.”
“Republic prides itself on the personal and professional connections we make with our customers,” said Guglielmo. “From day one, we focused on understanding their business, partnering for future success and adhering to clear standards for mutual success.”
Republic provided the food manufacturing company with a $15,000,000 asset-based loan secured by their accounts receivables and inventory, which included a seasonal inventory accordion that would bring the combined loan up to $20,000,000. During the seasonal growth periods, Republic provided over $5,000,000 more in excess availability than their incumbent bank lender was able to provide.
“We have a lot of depth of experience and connection across the food and beverage manufacturing industry that, combined with our national platform, allows us to partner with great companies like this one,” stated Chesters. “It is always satisfying to be able to help an established company overcome a temporary setback and recover their previous, successful stature through our suite of ABL and factoring solutions.”
Republic partners with bankers, private equity firms, accountants, consultants, investment bankers and industry experts to support growing companies across the country.
Posted on August 12, 2024
CHICAGO –
When a renowned beverage manufacturing company found itself with insufficient working capital from its lender, it partnered with Republic Business Credit to expand its access to flexible working capital.
Republic was introduced by a middle market Midwest consulting firm that needed a food and beverage industry expert that was able to structure a more growth-oriented working capital facility. The company has already exceeded budget by over 30% during its first quarter since being supported with a better fitted asset based loan.
The company manufactures several different beverages across the carbonated and non-carbonated category. The company maintains exclusive licensing deals with some of the biggest brands around the country, delivering a private label and branded manufacturing experience for its customers. The company is on pace to achieve more than $40 million in revenue in 2025, only its fifth year in business.
The company was able to combine their strategic growth plan with a scalable asset based loan and the right team of advisors to exceed their budgets so far in 2024. Its founder added, “Republic understands our industry and our future better than we could have hoped for, and we are excited to work with Republic for years to come.”
Republic provided a $4.25 million asset based loan that allowed the company to not only hit, but exceed its projections. Republic was able to fund the deal by combining inventory availability along with a 90% advance rate on their accounts receivables. Additionally, Republic provided an in-transit advance on inventory in transit throughout the United States to help accelerate their cashflows.
“This company is primed for success. They have a unique product that is very strong in their market,” stated William Kemp, SVP, business development officer. “We found a fiscally smart way to support the company’s growth and we are proud of our partnership.”
The enterprise was founded in the Midwest and manufactures and distributes licensed consumer packaged goods both domestically and internationally. Republic is a proud supporter of food and beverage manufacturers across the country.
“This deal is the perfect example of what our company sets out to do,” said Robert Meyers, president of Republic. “We saw a dynamic set of founders, poised for success with the right partnership that could keep up with their growth.” Meyers added, “Our goal, and that of our clients, is profitable growth, and we are excited about their early successes and expectations to exceed 50% year-over-year revenue growth by the end of 2024!”
Posted on July 15, 2024
LOS ANGELES –
Based on a referral from a well-known California CPA firm, a rapidly expanding apparel manufacturer has chosen Republic Business Credit as its preferred factoring partner. Facing imminent deadlines for spring shipments, the LA-based clothing manufacturer sought a dynamic financing solution capable of scaling with its accelerated growth.
Specializing in full-package garments for major national retailers, the apparel manufacturer’s executive team boasts extensive experience in the apparel and textile sectors, positioning the company as a rising leader in women’s fashion, encompassing tops, bottoms and dresses. Reflecting on their recent success, the company’s founder emphasized, “We surpassed our spring orders by 150% and needed a partner who truly understood our industry.”
Republic swiftly responded with a $3,000,000 factoring facility, which was promptly increased to $4,000,000 within the first month as demand surpassed initial expectations. Republic’s approach included the full approval of most customers and strategic funding support for non-approved accounts, ensuring seamless cash flow management for the manufacturer.
Republic Senior Vice President of Business Development in Los Angeles, Tae Chung, highlighted Republic’s tailored solutions: “Republic’s expertise in women’s apparel enabled us to craft dynamic options that perfectly aligned with the client’s needs. Once our strategy was set, we moved swiftly to finalize the agreement, and we are already enhancing our support for their future growth.”
Republic specializes in providing factoring, asset-based lending and e-commerce solutions to apparel and textile manufacturers nationwide. Republic Chief Operating Officer, Matthew Begley, expressed optimism about Republic’s strong performance: “We’ve surpassed our 2024 sales targets ahead of schedule, marking a pivotal year of growth for Republic Business Credit. We look forward to forging new partnerships with companies experiencing similar growth trajectories.”
For more information on Republic’s financing solutions tailored for the apparel and textile industries, please visit Republic Business Credit.
Posted on May 28, 2024
NEW ORLEANS –
As part of its 2024 growth strategy, Republic Business Credit is pleased to announce the addition of Tuyet-Van T. Nguyen to its New Orleans team. Nguyen assumes the role of Senior Vice President, Head of Field Examination & Governance, and will lead all third-party and internal field examination activities across the commercial finance portfolio.
Nguyen is building out Republic’s internal field examination department to better support its current clients, prospective clients and referral partnerships. With an internal field examination group, Republic will strengthen its ability to speed up deal closings while minimizing costs where possible. This will allow small- and medium-sized businesses across the country better access to factoring and asset-based loans. It further solidifies Republic’s goal of being trusted partner.
Additionally, Nguyen will lead on all governance activity related to Republic’s policies, as well as regulatory compliance related to the parent company, Renasant Bank, and other activities required by the CEO and management committee. She will work closely with Republic’s third-party field examination firms as well as eventually hire additional field examiners to maintain schedules across all current clients and various risk statuses. Nguyen will also monitor legal and regulatory developments.
“I am looking forward to bringing my skill set to Republic, which fosters an entrepreneurial spirit throughout the company. The opportunity to build and lead a team within Republic’s more intimate work atmosphere is particularly appealing to me. Republic’s reputation for trustworthiness, professionalism, in-depth industry knowledge and a supportive environment solidifies my belief in them and the culture they are fostering.”
Nguyen, a Loyola University of New Orleans graduate, joins Republic following a decade-plus career at a national bank. She most recently served as director of asset-based lending and has a proven track record in overseeing and identifying potential risk in various business lines by fostering partnerships across the entire process from front end to the back end. She oversaw a team of more than 15 examiners and will leverage that managerial expertise in her new role.
Nguyen reports directly to Republic CEO Stewart Chesters.
“Van’s experience across all platforms of asset-based lending and her in-depth field examination expertise make her the perfect candidate to create and expand a field examination group here,” Chesters said. “We’re grateful to have her on board as we forge new partnerships and grow our business and our team across the U.S.”
“With the addition of senior leaders such as Van, Republic continues to demonstrate our strength in the secured finance industry and our commitment to hiring and recruiting top talent,” Republic President Robert Meyers said. “In the first six months of 2024, our team has grown over 20%, which is a remarkable milestone for a firm that began as a small, local startup.”
In her leisure hours, Nguyen dedicates her time to co-administering and managing an extensive international all-female Facebook community called Host A Sister. With a membership exceeding 600,000 women, the group’s mission is to provide assistance and support during times of need.
Posted on May 21, 2024
HOUSTON –
Republic Business Credit, a nationally recognized commercial finance company, is expanding its Houston office to support the firm’s regional leader and SVP, Business Development, Houston, William Kemp. This expansion will boost Republic’s client base and help the company take on new factoring and lending opportunities nationwide. The company’s growth spurt also includes new positions in Los Angeles and at its headquarters in New Orleans.
“As the need for nontraditional lending products increases, we’re proud to be able to offer products that help both small businesses and private equity sponsors,” Republic President Robert Meyers said. “We expect continued growth in 2024 throughout our core constituencies, which include oil field service, apparel, temporary staffing, government contractors, food, beverage and accessory brands along with a continued focus on portfolio opportunities through the private equity community.”
Ayesha Tariq and Chance Chadwick join the Republic team in Houston as business development associates. Both University of Texas at Austin graduates, Tariq and Chadwick will work closely with the Gulf Coast Regional New Business team while supporting the Los Angeles, New Orleans and Chicago offices of Republic. They will report to William Kemp.
“As the demand for Republic’s suite of products in factoring, Fast AR funding and asset-based lending has increased, so has our need to expand the team here in the fast-growing Houston market,” Kemp said. “I’m excited to onboard Ayesha and Chance and expand our footprint in this growing industry.”
Tariq graduated from the University of Texas in 2022 where she served as a microbiology teaching assistant and led the philanthropic efforts of Alpha Phi Sigma. She completed a data science bootcamp the following year and most recently worked as a business analyst and coordinator, growing her expertise in healthcare, pharma and life sciences verticals.
Chadwick graduated in 2023 and interned in sales and marketing for The Catalyst Group in Houston. He assisted with M&A efforts for a newly acquired platform and helped with business development in international markets. He also worked with Blue Harbor Capital Advisors identifying new business opportunities, with a focus on private equity.
Republic CEO Stewart Chesters, who established the Houston office in 2011, commented on the additions of Tariq and Chadwick: “One of the exciting things about working in secured finance is the varied backgrounds of the folks in our industry. We all come from different fields and areas of interest, and Ayesha and Chance exemplify that,” said Chesters. “William has been leading our Houston expansion with drive and dedication. I know he will be a great mentor to both.”
Posted on May 14, 2024
LOS ANGELES –
Republic Business Credit is pleased to announce the addition of Nisha Pujji to its West Coast office, adding to a team known for its ABL, e-commerce and apparel factoring expertise. Pujji will serve as an operations analyst, reporting to AVP, Operations Manager, Chad Crunelle.
Republic represents one of the largest entrepreneurial focused finance companies in the United States. The growth of the Los Angeles office reflects the firm’s expansion nationally with a platform and products that support the needs of growing small businesses, the private equity industry and entrepreneurs. The company is headquartered in New Orleans with offices in Los Angeles, Houston and Chicago.
As an operations analyst, Pujji will ensure that Republic’s day-to-day operations are in accordance with credit policy and other established processes. She will support the traditional factoring, asset-based lending and accounting teams across the U.S.
“Part of our firm’s investment strategy is to invest in our people, and the growth in our West Coast office is a reflection of that,” said Republic Chief Operating Officer Matthew Begley. “Our goal is to continue to add great people who reflect our culture of vibrancy, diversity and talent. We’re excited to welcome Nisha to the team.”
Pujji graduated from the University of California, San Diego, with a bachelor’s degree in political science and a focus on public law. She clerked for a law firm in Chatsworth doing research, writing and administrative duties for probate cases.
Crunelle said Pujji will be a great fit for Republic: “Nisha’s versatile background will add a fresh perspective to our growing Los Angeles-based team. She will help coordinate audits and inventory appraisals and work with our accounting group to ensure smooth communication between us and our clients.”
Posted on May 7, 2024
NEW ORLEANS –
When Republic Business Credit saw an opportunity to add an experienced finance expert to their team in New Orleans, they jumped at the chance. Danielle Wright-Madison, who began her career as a financial analyst and most recently served as a field exam manager for a major national banking institution, is among the new hires at Republic’s NOLA headquarters.
Wright-Madison will take on the role of Vice President, Underwriting, and report directly to Republic’s Senior Vice President, Underwriting Manager, Brian Daray.
“Danielle’s breadth of experience in finance and underwriting make her a perfect fit for our growing business,” Daray said. “She will be a key player on our team, working closely with the underwriting, client services and new business teams to guide us toward prospective borrowers that make sense for us and our partners.”
“I am truly looking forward to working within the entrepreneurial environment of Republic and leveraging my skill set of problem solving, leadership, support and training,” Wright-Madison said.
In her role, Wright-Madison will support the firms’ teams across its suite of products that include asset-based lending, e-commerce and factoring. She also will be responsible for reviewing and assessing clients for compliance against standard credit policies and procedures.
Prior to Republic, Wright-Madison was continually promoted at a major national bank, honing her expertise in field examination, due diligence, billing, records, inventory collateral and credit assessment.
She earned a bachelor’s degree in accounting from Xavier University of Louisiana, is a member of the Business Achievers Association, National Association of Black Accountants and has volunteered for an IRS tax assistance program.
“We were looking for someone in our New Orleans office who would be a proactive contributor to our community and prospective clients, as well as provide critical guidance in all aspects of client due diligence and compliance. It’s an important role, and we’re thrilled to be able to add Danielle to the incredible talent pool at Republic,” Republic President Robert Meyers said.
Posted on May 7, 2024
NEW ORLEANS –
Republic Business Credit continued its national growth trajectory with a new addition at the company’s home office in New Orleans. Katherine Hebert Seghers, an experienced data analyst and financial accounts manager, recently joined the firm as Vice President, Senior Accountant. A graduate of Loyola University New Orleans with an MBA from University of New Orleans, Seghers brings more than a decade of experience in managing financial accounts.
“I am thrilled to join the Republic team. My position is a dual role that will expand my financial skill set while allowing me the opportunity to learn the secured finance field through various special projects. I love the possibility to learn something new, which made this role so appealing,” Seghers said. “Meeting the team and seeing Republic’s company spirit in person along with their continuous growth reaffirmed why Republic is a leader in the secured finance industry and where I want to be.”
Seghers will report directly to Republic SVP, Controller Diane Wszalek.
“Katherine is a much-needed addition to the team, and I look forward to collaborating and working with her across our business planning and financial reporting requirements, as we balance our short- and long-term goals together,” Wszalek said.
In her role, Seghers will contribute to the strategic and growth goals of the firm while overseeing critical day-to-day accounting needs. She will use her accounting expertise to oversee and manage reconciliations in all operating systems, complete weekly accounts processing, compile monthly client analysis and fee assessment, and assist the controller on any special projects, such as third-party risk & vendor management and SOX auditing. Her prior experience in marketing and communications will also be a valuable asset as she assists with marketing projects.
“Our firm is growing and it’s important to add to our team in a way that supports senior executives in some of our critical day-to-day responsibilities in an ever evolving and developing industry. We’re lucky to have Katherine and her wealth of experience on board,” said Republic Chief Executive Officer Stewart Chesters.
