Posted on December 3, 2019
Republic Business Credit strengthens its national platform; adds new products, talent, deep industry experience and expands into California
LOS ANGELES (PRWEB) DECEMBER 03, 2019 – Republic Business Credit (“Republic”) further expanded its business finance platform with the acquisitions of Continental Business Credit (“CBC”) and Fast A/R Funding. Republic partnered with CBC’s CEO, Matt Begley, to transfer substantially all of its assets to form Republic’s new West Coast office. Republic is expanding its national platform through a dual strategy of organic growth and complementary acquisitions that add new products, talent, and geographic expansion. Republic represents one of the largest entrepreneurial finance companies in the United States. Republic’s new products will include traditional Non-Recourse Factoring, Asset Based Lending, and a technology-enabled small ticket factoring platform to add onto its Ledgered Line of Credit and Factoring offerings.
Stewart Chesters continues as the CEO of Republic, with Robert Meyers as President and Matt Begley joining as COO. “It is a rare opportunity to align yourself with another founder that shares your vision such as Matt,” says Stewart Chesters, CEO of Republic. “Robert and I are thrilled to continue this journey together with the addition of Matt to our executive team.” Matt Begley added, “Republic has built a strong foundation and reputation in the commercial finance industry. Together, we represent a formidable force and I am excited to work with Stewart and Robert.”
Republic Business Credit will remain headquartered in New Orleans, with offices in Los Angeles, Houston, Chicago, Nashville and Minnesota. Republic is excited to announce that Jason Carmona was promoted to EVP, Western Regional Manager, with the task of building out a new business team that supports its ambitious growth goals. Additionally, Vanessa Johnson joins the team as EVP, Asset Based Lending, adding significant depth and experience. “We are proud to invest in our company’s future. The addition of Jason, Matt, Vanessa, and their teams add significant ABL and Apparel Factoring expertise to our team,” says Robert Meyers, its President, “With more than 70 years of Asset Based Lending and Non-Recourse factoring experience, Matt, Jason, and Vanessa are the right leaders as we enhance our client solutions”
Republic has significant available capital to support our enterprise’s growth for the foreseeable future. “Republic emphasizes adding great people that supplement our culture as we continue to be a vibrant, diverse and forward-looking organization. Our team has the breadth of experience to maximize today’s opportunities, embrace technological shifts and exceed the evolving needs of our clients,” said Robert Meyers. Republic looks forward to partnering with additional management or ownership groups that are equally excited about the future of the commercial lending industry.
Republic Business Credit supports banks, investment banks, private equity, accountants, lawyers and consultants across the United States to create value, strengthen relationships and provide value creation services to growing businesses.
Posted on August 15, 2019
New Orleans, LA – Republic Business Credit is proud to announce that Andrea Marus has been promoted to Vice President of Business Development in its new Nashville Office. According to a recent Forbes article, Nashville located in Davidson County, is the 7th fastest growing metro area in the United States. Andrea grew up in Tennessee before attending the College of Charleston. Republic strongly believes Nashville is a fantastic opportunity for growth in a market that is underserved by the non-bank commercial finance community. This marks Republic’s sixth established market presence and its second new market in the past 12 months. Andrea is already a member of the Tennessee Chapter of the Turnaround Management Association, Mid-South Commercial Financial Association and will be joining the Tennessee Chapter of the Association for Corporate Growth.
Andrea joined Republic in 2016 as AVP, Underwriter in its New Orleans Headquartered office. Prior to joining Republic, Andrea spent nearly 3 years and completed the Financial Analyst training program for Wells Fargo Commercial Bank. She always wanted to expand her career into the business development side and will bring a great deal of credit and underwriting experience to support intermediaries and clients throughout the Mid-South region. Her office will be at One Nashville Place, 150 4th Ave N in downtown Nashville. Republic hopes to appoint a junior business development officer in the future to support Andrea so she can keep up with the growing demand for non-bank lending solutions in the Greater Tennessee area.
“We have been fortunate to watch Andrea excel as an underwriter in our New Orleans office and we are thrilled she accepted the challenge to continue building our national sales platform with her promotion this summer into the rapidly growing Nashville market,” said Stewart Chesters, CEO of Republic Business Credit.
Republic is committed to helping entrepreneurs throughout the country with the bulk of its presence in the Midwest, Upper Midwest, Gulf Region and now Mid-South & Southeast regions. Tennessee and its surrounding states are often thought of as flyovers by people in the Northeast, where Republic is doubling down on its support of founders between the two coasts with its launch into Nashville to complement its presence in Minneapolis, Chicago, Houston and New Orleans offices that service clients in over 35 states.
Posted on August 15, 2019
New Orleans, LA – When a sponsor owned government contractor needed additional liquidity during the longest government shutdown in United States history, they set sail to partner with Republic Business Credit. When their traditional bank facility wouldn’t support their growth, one of their peer companies in the same sector who was one of Republic’s clients recommended Republic as a solution.
Due to the cyclical and large project nature of the shipyard repair business, they needed a flexible and covenant free solution that leveraged their government and commercial receivables. Additionally, the company sought a financing partner that understood the complexity of being a sponsored owned company combined with dealing with government assignment of claims procedures.
Republic provided a $6.0 ledgered line of credit combined with a $500,000 supplemental mobilization call facility that smoothed out any working capital gaps due to the processing of government paperwork or payments. Additionally, Republic provided a covenant free solution to help assist with any seasonal cashflow strains.
“Government shipyard contractors provide marine and defense skilled employment opportunities and build strong communities where they operate,” said Stewart Chesters, Chief Executive Officer of Republic. “As a commercial finance company that specializes in government contractors, we are excited to partner with businesses that support our national defense efforts.”
Republic Business Credit supports private equity sponsors and other capital partners across the United States to create value, implement turnaround plans and grow successful businesses.
Posted on August 15, 2019
Chicago, IL – When a temporary staffing and consulting firm began to outgrow their existing line of credit, they sought out Republic Business Credit to provide a larger facility and a higher advance rate to keep up with their escalating payroll needs. Republic partnered with the community bank to provide a flexible receivable facility while the referring bank was able to maintain all of the treasury management services. The bank wanted to keep a strong relationship with the client and looked to take over the facility within the coming year. Republic provided a creative and scalable structure to achieve the customer-centric approach of the bank.
The company provides light industrial staffing solutions for manufacturing companies located in automotive, oil field service and logistics industries providing their diverse customers with maintenance, repair and emergency work services. High growth rates and customers requiring extended payment terms meant that the company quickly outgrew their existing lending facility. To enable the company to continue to take advantage of growth opportunities Republic provided a bridge growth facility.
Republic provided a $4.5 million Receivables Purchase Line of Credit facility without any covenants or cash flow requirements. Republic’s initial funding was able to provide the company with the ability to fully repay the bank facility and have over $1 million in additional working capital. In a short few months since commencing their facility with Republic, the company is on pace to double their revenue in the second half of the year compared to the previous year. Their CEO attributes it to Republic, “As a result of our increased confidence meet our growing payroll demands, we are able to take care of our employees while growing our business.”
“Temporary Staffing companies are the lifeblood of the small businesses located throughout America. Republic is proud to support minority-owned and female-owned entrepreneurs,” said Stewart Chesters, CEO of Republic. “We have several customers that support the supply chains of the automotive, energy and transportation industries.” According to the Small Business Administration of the U.S. government, small businesses make up 99.7% of the US employer firms. Republic designed its team and products to support smaller and medium-sized companies.
Posted on August 15, 2019
New Orleans, LA – When a rapidly growing small business was declined by the Export-Import Bank of the United States, they leveraged Republic Business Credit’s export expertise to fund their cash flow. Republic was founded by Stewart Chesters, who emigrated from the United Kingdom in 2001. Republic funded the export receivables to the United Kingdom despite the ongoing uncertainty caused by the latest developments of Brexit. Republic will always aid entrepreneurs that form and create the world’s supply chains that current face challenges from Brexit and a changing tariff landscape.
The company was founded in 2018 by four advertising executives who previously worked for large multinational firms and saw a service gap being offered by larger marketing agencies. The company provides customized digital marketing, advertising, print and experiential solutions for its customers throughout the US and Europe. The company assumed with their backgrounds they would simply get a line of credit from their bank, however, they were declined due to the number of years in business and reliance on United Kingdom customers.
Republic provided a $750k Export Factoring Facility along with helping the company obtain a credit insurance policy that guaranteed the collectability of the receivables. The cashflow of the company struggled with the extended terms, which are becoming more normal by publicly traded and advertising communities. Republic provided the stability, support and growth capital needed to build their company while combating Net 90 day payment terms.
“As as a proud Brit, it is very rewarding when you can help support US companies to export back to my homeland,” said Stewart Chesters, Chief Executive Officer and founder of Republic. “We have several customers that either emigrated to the US or choose to expand their business by exporting goods or services to Europe. We partner with founders and entrepreneurs that want to expand their business without being saddled by the fear or uncertainty of customer location.”
Posted on August 15, 2019
New Orleans, LA – When a Texas-based temporary staffing company received two new contracts with large energy production companies, they sought a payroll funding expert to support their growth. Republic Business Credit collaborated with their regional bank to structure a factoring facility that focused on the new customers while enabling the bank to retain both the line of credit and treasury management services. Republic was selected by the bank and company over several other factoring companies because of its ability to move quickly and fund within a week.
The company was formed by European expatriates and oil field service veterans in the late 1990s. The company became a full-time job for the founders upon successfully landing two new customers, only to discover their bank line of credit imposed customer concentration limits. The founders were determined to find a solution that allowed them to retain their banking relationship and partner with a local growth capital facility. The company provides technicians, drivers, and general support staff to midstream energy companies.
Republic provided a $2.0 million Selective Factoring Facility combined with an unbilled advance structure to provide funding against their invoicing prior to formal customer approval. When companies are working in the oil field space, their employees are often miles away from their operation centers that prepare the billing. The time-lag of getting the paperwork processed and billed causes additional cash flow challenges. Republic provided the unbilled account receivable facility to help the company make payroll each week to bridge this time-lag.
“Companies working in the Permian Basin and Eagle Ford shale are challenged by unprecedented supply and demand issues due to the extreme growth in the region,” said Robert Meyers, President of Republic. “We have many customers in the oil field industry, so we are able to understand the rapid growth demands combined with the geographic challenges presented by lacking administrative infrastructure in the area. We partner with many of the downstream, midstream and upstream production firms to support their essential supply chains.”
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 August 15, 2019
Houston, TX – Republic Business Credit partnered with a leading turnaround consulting firm to support a 28-year-old commercial printing company that was being managed by a bank special assets group. Republic agreed to an inter-creditor with the incumbent lender in order to help reduce the pressure of the heavy debt burden and provide growth capital for the company to take on new customers. Republic was brought in by the turnaround consulting firm because of its leading reputation within the Turnaround Management Association and its ability to support corporate renewal efforts.
The printing company needed a partner that understood the complexities of an evolving industry as they worked to balance the conversion from print into digital product offerings. The company suffered a set back after an unsuccessful acquisition erased their cash flow from operations during their transformation. They needed a funding partner that could quickly work with several third parties to implement their growth plan.
Republic provided a $2.5 million Ledgered Line of Credit combined with a $250,000 Purchase Order finance facility to support their immediate refinancing needs while also enabling payments to their key suppliers to purchase new raw materials. The business and consulting firm had confidence that Republic will support its longer-term business needs without unnecessary covenants.
“The printing industry is consolidating and transforming at a rapid pace with the introduction of many digital requirements,” said Robert Meyers, President of Republic and President of the Turnaround Management Association’s Midwest Chapter. “As a commercial finance company, we are well-positioned to partner with companies during their change management and corporate renewal initiatives. We have strong relationships with banks, advisors, and accountants that trust us to provide restorative capital options.”
Republic Business Credit supports banks, investment banks, private equity, accountants, lawyers and consultants across the United States to create value, strengthen relationships and provide value creation services to successful growing businesses.
Posted on March 29, 2019
Chicago, IL – Republic Business Credit leapt into the technology forward experiential marketing
realm by partnering with an award-winning millennial founder that has achieved tremendous success
partnering with Fortune 500 companies. The company combines creativity and excellence into a
unique experiential based design. Republic was referred in by a regional investment bank that sought
a technology savvy factoring partner for its client.
The creative marketing company was founded a few years ago with the mission of combining
their design talents with a new vision for their clients’ customer. The company transforms a traditional
marketing campaign into an unforgettable experience.
Republic provided a $3.0 million selective invoice factoring facility that supported their growing
working capital requirements. The company only factored their larger and slower paying customers
that are traditionally viewed as their best customers, but caused the business cash-flow challenges due
to the slower invoice payment terms. Republic was willing to extend eligibility to 120 days on several
customers to create availability and further help ramp their sales goals in 2019.
“Millennial owned entrepreneurs are demonstrating success outside of the typical Silicon Valley
darlings you read about in the Wall Street Journal,” says Robert Meyers, President of Republic. “As a
millennial owner that partnered up with a Gen X’er in Stewart Chesters, we are proud to support
businesses on the cutting edge of their respective industries regardless of the generational stigma
thrust upon them.”
Republic Business Credit supports banks, investment banks, private equity, accountants,
lawyers and consultants across the United States to create value, strengthen relationships and provide
complementary services to entrepreneurial businesses. Republic is proud to support entrepreneurs
across all ages, backgrounds and experience levels to realize their dreams.
Posted on February 11, 2019
CHICAGO (PRWEB) FEBRUARY 06, 2019
Republic Business Credit supported a second generation family manufacturing business to refinance away from a restrictive non-bank asset based lender that was unwilling to support the turnaround management efforts of the recently appointed CFO. The CFO reached out to Republic, as he previously had success with Republic’s ownership team with a relationship financing a third tier automotive supplier with a successful exit a few years back.
The manufacturing company was founded more than 50 years ago and provided irreplaceable jobs throughout the community. The company turned the corner while strategically positioning itself for growth in 2019. The company needed a funding partner that understood its immediate cash flow needs as well as the capability to offer equipment term loans and a seasonal overadvance component as new customers were onboarded.
Republic provided a $3.0 million Ledgered Line of Credit to support their immediate refinancing while also reducing their financing costs going forward. The business possesses the confidence that Republic will support their long term business needs without unnecessary covenants.
“Manufacturing and family owned businesses represent the backbone of America,” said Robert Meyers, President of Republic. “As a commercial finance company, we are excited to assist companies that represent the past and future of the Midwestern business community. We have strong relationships with banks, advisors and accountants, and they trust us to provide the correct growth capital facility.”
Republic Business Credit supports banks, investment banks, private equity, accountants, lawyers and consultants across the United States to create value, strengthen relationships and provide complementary services to successful growing businesses.
Posted on February 11, 2019
CHICAGO (PRWEB) FEBRUARY 04, 2019
Republic Business Credit is proud to confirm that Robert Meyers will act as the 2019 President of the Chicago/Midwest Chapter of the Turnaround Management Association as it enters its 28th year.
The Chicago/Midwest Chapter of The Turnaround Management Association is one of the largest, fastest-growing chapters of the only international nonprofit association dedicated to corporate renewal and turnaround management.
“It has been a terrific experience working with our leaders to produce high-quality networking and educational events for our members throughout 2018,” says Nick Miller of Neal Gerber & Eisenberg LLP, the immediate past president. “Our chapter continues to be one of the largest and most successful because its members and leaders include the most talented and dedicated professionals within the restructuring and financial community. I look forward to Rob’s leadership and continued success for the chapter in 2019.”
For 2019, more than 65 volunteer leaders, including officers, directors and committee chairs and members, will comprise the Chicago/Midwest Leadership team, ensuring the continued provision of dynamic programming and networking opportunities.
“We have always seen the TMA Chapter in Chicago as a dynamic business partner and are proud that we are represented at this level by Rob,” says Stewart Chesters, Republic’s CEO. “We know he will play an active part in the Chapters theme for the year ‘Disrupt and Engage’!”
Posted on February 11, 2019
NEW ORLEANS (PRWEB) FEBRUARY 01, 2019
When a California based Investment Bank needed more than a factoring solution for its Ohio based technology enabled temporary staffing client, they tasked Republic Business Credit with paying off the commercial bank and supporting future payroll funding needs. Republic structured an expandable receivables funding facility along with an unbilled receivables line of credit to meet the company’s timing needs between payroll and invoicing.
The client’s extraordinary growth forecast required a scalable facility to assist with their weekly payroll obligations and continued investments in industry leading technology applications. Republic’s facility eliminated any short term cash-flow shortfalls while providing the small business owners comfort to achieve their dreams. Republic has deep ties into the staffing industry and can provide more than simple funding oriented solutions when necessary.
Republic Business Credit provided the medium-sized entrepreneurial company with a $3,000,000 receivables purchase line of credit and a $750,000 unbilled receivables line of credit, giving them the ability to continue onboarding new clients at a fervent pace.
“Rapidly growing companies require an all-encompassing solution to support their growth needs,” said Robert Meyers, President of Republic. “Republic is proud to partner with temporary staffing clients on the cutting edge of technology and customer service to provide them the toolbox for unlimited growth potential.”
Republic Business Credit partners with entrepreneurs across the United States, to create value, invest in technology and enable them to focus on growing successful businesses.
Posted on November 3, 2018
NEW ORLEANS (PRWEB) NOVEMBER 01, 2018
Republic Business Credit announced today it hired Joseph Zupo as Underwriting Manager in its New Orleans office. This appointment adds significant experience, depth and knowledge in Asset Based Lending as the company continues to expands its national footprint to provide dynamic working capital solutions throughout the U.S.
Republic Business Credit provides Factoring and Asset Based Lending to companies that are experiencing high-growth or recoverable distress. The New Orleans-headquartered finance company has recently expanded its presence in the Midwest and Southern regions with key, high-level staff appointments. Relocating to New Orleans, Joseph will focus on coaching, mentoring and leading our underwriting team. Joseph will support Robert Meyers, its President, as the origination team seek companies throughout the country with funding needs up to $10,000,000 across their receivables, purchase orders, inventory and equipment.
“Joseph is a proven performer in the Asset Based Lending and Factoring industries in both the Bank and Non-Bank market,” said Robert Meyers, President, Republic Business Credit. “Joseph will combine his experience and deal doing attitude to help us fund more clients that previously possible.” Joseph previously worked for Presidential Financial, CIT Commercial Finance and Bank of America Business Capital is underwriting, credit, risk and portfolio management roles. Joseph is a member of the Turnaround Management Association, Commercial Finance Association and former board member of the Risk Management Association.
“Joseph has a strong background providing creative and flexible solutions to the ever increasingly complex transactions we finance,” said Stewart Chesters, Chief Executive Officer, Republic Business Credit. “With his determination, experience and deal-funding attitude he will bring tremendous value to our partnership and existing relationships. He is a safe pair of hands.”
Republic Business Credit supports accountants, lawyers, investments bankers and other centers of influence across the United States to create value, strengthen relationships and support successful growing entrepreneurial businesses.