Posted on June 16, 2022
Houston, TX
When a UK headquartered temporary healthcare staffing provider decided to open operations in the US, they tasked Fast AR Funding to keep up with demand. Shortly after setting up in the US, the domestic growth quickly outpaced expectations and the company found themselves with a cashflow gap to keep up with their growing payroll. The UK parent turned to Fast AR Funding to enable its US operations to become self-sufficient as they planned to expand in other countries as well. Fast AR Funding provided a $200,000 spot factoring solution with a high advance rate to support their growing payroll needs in 2020 and beyond. Within the first six months as a client, Fast AR increased the facility limit to over $1,000,000 as they saw a huge surge in the demand for nurses across the country.
The nurse staffing company provides temporary placement of qualified healthcare professionals to hospitals, regional medical providers, and Healthcare VMOs. The demand for travel nurses across the different regions of the country will continue during the pandemic as healthcare regions continue to see consistent fluctuations in the number of cases and corresponding medical personnel necessary. Hospitals and healthcare systems continue to react to the virus hotspots across the country. CEO of the UK parent said, “Fast AR Funding closed our facility in only a few days and has allowed us to keep up with the hospital demand without any hesitation”; he further added, “Our biggest surprise with Fast AR Funding is the instantaneous access to decision makers that understand our business and continue to increase our facility as necessary, we are on pace to need more than $2,000,000 in working capital by the end of October.”
In order to ensure their payroll needs were covered, the company sought Fast AR’s expertise in the temporary staffing space. Fast AR provided a selective factoring facility with our seamless online application and technology enabled approval process. Fast AR Funding provided the first funding within 72 hours that allowed the client to meet their payroll the same week they completed the application. Fast AR’s selective factoring facility allows the client to submit any amount of invoices needed for payroll without any minimums or contracts. The company continues to choose the flexibility and speed of Fast AR over other factoring alternatives. “Factoring is a great solution for entrepreneurs in the temporary staffing space” said Fast AR Funding’s New Customer Manager – William Kemp; he further added “Despite the ongoing pandemic, it is wonderful to help a great company succeed, grow their business and help support our healthcare community’s response to Covid 19 across the country.”
Posted on June 16, 2022
Los Angeles, CA
When a Los Angeles apparel manufacturing and import company sought funding for their Fall and Winter orders, they chose Republic Business Credit to fuel their growth. Republic approved a scalable traditional factoring 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 the Pandemic. 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 has supported clients 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, pant suits, 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 2021. 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 cashflow 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 the economy gets back to a growth track.” He further added, “We are excited to help all brands on the front lines of the fourth quarter and future growth.”
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.
Posted on June 16, 2022
New Orleans, LA
When a Gulf region-based food service company sought more funding than their incumbent bank lender could provide, they fed Republic Business Credit the order for growth-orientated working capital. Republic approved a non-dilutive and adaptable facility that provided availability on their account receivables and purchase orders. The food service company was looking to accelerate its ability to buy grocery inventories, paper products and hire staff to keep up with the growing demand across the public-school systems.
Republic is a proud supporter of the food and beverage industry, especially our clients that buy produce through their local farms and produce providers during uncertain growing seasons. The total US packaged food market segment is expected to exceed a trillion dollars in 2021 and continue to see a CAGR in excess of4%. The natural food and beverage category represents 10.5% of the volume, but nearly 30% of the dollar growth volume across the total industry, according to several sources. Republic is increasingly providing more working capital financing in the natural, organic, ingredient, and plant-based categories.
The food service company provides breakfast, lunch, snacks, dinner and drinks to school districts across the gulf region,and continues to add on additional school districts and support thousands of students. The company primarily sells directly to the school districts throughout the Gulf region. The rapidly growing company far exceeded its sales forecast during the Covid-19 pandemic as students needed additional essential services whether they were in school or not. The company supplies meals throughout the year and remains at the heart and belly of many students’ meal programs. As the founder told Republic when they were searching for capital,“This debt facility will not only increase our ability to grow as a company, but it will allow us to help so many more students and schools as we turn into 2021 back to school season.”
Republic provided a $5m ledgered line of credit facility with a $500,000 purchase order call facility to a Gulf Region based Food Service Company. Republic’s funding will enable the company to buy more bulk inventory, hire additional staff and increase the number of school districts they can support each school year. Republic structured the ledgered factoring facility to allow for rapid growth without any financial covenants or field exam requirements. The company expects a strong close to 2021 and plans to request an inventory and equipment term loan facility as they continue to build their company.
Republic’s President, Robert Meyers said, “We believe our factoring, ABL, and inventory lending products are great supplements to the vision of our growing portfolio of food brands.” He further added, “we are excited to help enable our entrepreneurs to focus on adding revenue while knowing they have a supportive partner to weather any supply chain or growth issues they might encounter during the pandemic.”Republic’s CEO, Stewart Chesters, added “The food supply chain is critical to everyone’s well-being, we are excited to help so many food companies as they lead us into healthy food alternatives.” Republic Business Credit provides factoring, asset-based lending and direct to consumer facilities up to $10,000,000 across the United States.
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 27, 2020
Republic Business Credit funds a food ingredient manufacturer company in partnership with a leading food industry consultant
LOS ANGELES (PRWEB) SEPTEMBER 24, 2020
When a West Coast-based natural food manufacturing company sought more funding than their incumbent bank lender could provide, they fed the order to Republic Business Credit for increased access to working capital. Republic approved a scalable and non-dilutive growth-orientated facility that provided availability on their account receivables. The natural food ingredient manufacturing company was looking to accelerate its growth across its product lines. Republic is a determined supporter of the natural food trade shows, including its regional associations, Naturally. The total food and beverage market is over half a trillion dollars and continues to grow each year. The natural food and beverage category represents 10.5% of the volume, but nearly 30% of the dollar growth volume across the total industry, according to several sources. Republic is a proud supporter of the food and beverage industry, increasingly more in the natural, organic, ingredient, and plant-based categories.
The food manufacturing company provides several unique ingredients to natural food brands across the country. The company sells to distributors, co-packers, and manufacturers of healthy food products across the country. The rapidly growing company outpaced its sales targets in the midst of the Covid-19 pandemic and wanted a partner to help double its revenue next year. As the founder told Republic shortly after closing, “This debt facility will not only increase our ability to grow as a company, but it will allow us to retain greater ownership of the company as we didn’t need to raise additional equity.”
Republic provided a $2.75m ledgered line of credit facility with to a West coast-based food manufacturing company. Republic’s funding will eliminate the cashflow gap from the difference in timing from their suppliers and their customer payments. Republic structured the ledgered factoring facility to allow for extended terms without any financial covenants or field exam requirements. The company expects a strong close to 2020 and plans to ask for a facility limit increase in early 2021. Republic’s President, Robert Meyers said, “We believe our factoring, ABL and inventory lending products are great supplements to the vision of our growing portfolio of food brands.” He further added, “we are excited to help enable our entrepreneurs to focus on adding revenue while knowing they have a supportive partner to weather any supply chain or growth issues they might encounter during the pandemic.” Republic’s CEO, Stewart Chesters, added: “The food supply chain is critical to everyone’s well-being, we are excited to help so many food companies as they lead us into healthy food alternatives.” Republic Business Credit provides factoring, asset-based lending and direct to consumer facilities up to $10,000,000 across the United States.
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 26, 2020
Republic Business Credit supports a California based apparel manufacturer with a traditional factoring facility in the midst of a pandemic
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.
Posted on September 26, 2020
Republic Business Credit partnered with the Management Team to provide credit protection and receivable management services.
LOS ANGELES (PRWEB) SEPTEMBER 17, 2020
When a West Coast family-owned apparel importer wanted credit and collection services, they chose Republic Business Credit to help support their credit decisions during the Covid-19 pandemic. Republic provided a stress-free, credit protection solution that gives comfort for any new orders the company will consider shipping to both major and regional retailers. According to a recent CNBC article, as the pandemic stretches on, the number of retail bankruptcies are quickly approaching the highest number in over a decade. As of early August, over 43 retailers have filed bankruptcy, with many more expected to follow suit before the pandemic is over. Republic believes in the future of retail and is continuing to approve orders for its clients despite what some of the newspapers might refer to as the “end of retail.”
The company has seen a recent increase in shipments for their spring and summer orders and is starting to slot the upcoming holiday season. The company founder said, “The comfort of knowing that we will collect our wholesale receivables provides us the confidence to continue supplying large retailers while increasing our responsiveness to fill orders to established retailers that are reopening in certain core markets.”
The company primarily imports a women’s fashion line in the light, work from home, and leisure categories. They sell unique style dresses, blouses, pants, and loungewear in the medium price segment. The company believes it is well-positioned for the post Pandemic transition having minimal debt and the ability to limit their overhead expenses as an import company, but sees an unpredictable year in terms of revenue and credit worthiness of retailers. The company finally set up its non-borrowing credit facility after many years of conversations in light of everything going around the world. The credit protection allows the company to place an order with its vendors, knowing that they will be able to pay their suppliers assuming the product successfully arrives at the retailer.
Republic Business Credit provided a non-borrowing, traditional factoring facility with credit protection and collection services, with minimal annual volume requirements. Republic provided the credit information to support the decision for which orders to take and which ones to avoid during the recession. The company believes there will be an uptick in volume as the year progresses but it might be unevenly spread across his customer base depending on reopening guidelines.
“We will always support the apparel and consumer packaged goods industry with our traditional factoring product,” said Matthew Begley, COO of Republic, continuing, “We added our direct to consumer and asset-based lending products to support a wider range of businesses cycles throughout the consumer packaged goods community.” Republic provides factoring, asset-based lending, and direct to consumer facilities up to $10,000,000 to businesses throughout the country.
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 26, 2020
Republic Business Credit partnered with a private equity fund to refinance its existing bank facility and provide more availability on their inventory.
NEW ORLEANS (PRWEB) SEPTEMBER 15, 2020
When a private equity-owned west coast apparel accessory manufacturer needed more availability and additional liquidity from their loan facility, they chose Republic Business Credit to accelerate their growth through the pandemic. Republic provided a growth-orientated facility that gives availability on inventory, merchant accounts, and direct to consumer proceeds. The apparel manufacturer welcomed the opportunity to fully leverage their inventory without a restriction or cap in relation to their receivables, as a traditional asset-based loan would structure. The private equity fund operator shared with Republic, “The comfort of having a strategic partner during a recession that is comfortable with our pivot to e-commerce is invaluable. We would reduce shareholder value if our plans were tied solely around a wholesale strategy at the moment.”
CLIENT BACKGROUND
The company manufactures and distributes licensed and branded apparel accessories including bags, wearables, and other wardrobe add-ons. Typically finding itself in the moderate to premium categories, the company receives glowing customer reviews through Amazon. In the post-COVID-19 transition, the company feels it is well-positioned, seeing a lot of upside in their product category. Additionally, for the short-term, the company sees benefits arising from the current ‘virtual world’ as it allows a better centralization of their inventory and a positive impact on supply chains.
Without the just in time demands of a wholesale strategy, the company is better positioned to time launches and partnerships through their eCommerce and direct to consumer offerings. In the longer term, expanding its relationships with the licensees to add-on related category products to the same target customers. This will increase their wallet share and more repeat purchase opportunities.
SOLUTION
Republic provided a $3.0m direct to consumer inventory loan facility. This facility provides significant availability on their inventory, receivables, merchant accounts, and eCommerce related proceeds. Republic’s funding refinanced its existing bank facility while providing ample liquidity to enhance its e-commerce strategy. The company believes it will be an unpredictable wholesale revenue year. They remain excited about the uptick in orders it has received directly from customers.
“We enjoy partnering with strong equity partners that see value in non-dilutive, growth-supporting, debt financing opportunities,” said Robert Meyers, President of RBC. Adding further, “We support companies that need a mix of scalable growth-orientated solutions. Our solutions can come from 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 US. Republic looks to create value, by enabling them to focus on growing successful businesses.
Posted on June 8, 2020
When a West Coast family-owned furniture manufacturer needed more availability and additional liquidity from their debt facility, they chose Republic Business Credit to provide the bridge to help through the Pandemic. Republic presented a stable, consistent and growth-focused approach to the management despite the ongoing recession and public health crisis. Republic provided credit protection on their receivables, less restrictive concentration limits and a higher advance rate on their eligible collateral. Despite slightly increasing their cost of capital with a non-bank finance company, they prioritized having no financial covenants to better equip their evolving marketing strategy during the Pandemic.
The company has seen a tremendous demand from large eCommerce vendors to help equip remote offices for those switching to telecommuting over the past few months. The company CEO said, “The comfort of knowing that we will collect our wholesale receivables provides us the confidence to continue supplying large retailers in the medium term, while increasing our responsiveness to the short-term needs of our customers that are working from home.”
The company manufacturers and imports home office and entertainment furniture including desks, chairs, stands and consoles. The company typically finds itself in the moderate and mainstream affordable price categories. The company believes it is well-positioned for the post Pandemic transition, as they see a lot of upside in both the short and medium terms for countrywide office reopening plans. In the short-term, the company will continue to benefit from the “working from home” orders as people look to pivot away from their dining room table offices. In the medium term, the company is exploring options on the commercial side as their customers are reexamining open office concepts to comply with social distancing guidelines from the CDC and State Health Departments around return to work protocols.
Republic Business Credit provided a $3.5 million non-recourse factoring facility that provides credit protection without any covenants. Republic’s funding was used to refinance out the existing bank facility while providing over a million dollars of availability to respond to customer demand. The company believes it will be an unpredictable revenue year, that while they are confident there is a significant uptick in demand, they are not sure of the timing of the orders given the ever-changing “return to work” guidelines and timelines. “We continue to see small and medium-sized businesses exploring industry growth opportunities, while struggling with inconsistent behaviors from their incumbent bank lenders,” said Robert Meyers, President of Republic. He further added, “We have built our business to help support companies that need a mix of growth and recovery solutions across our factoring and asset-based lending products.”
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 June 8, 2020
Republic Business Credit is proud to announce the hiring of Tae Chung as Senior Vice President of Business Development in its Los Angeles office. Tae will significantly increase our presence in the California traditional factoring market, further building upon the acquisition of Continental Business Credit in 2019. In addition to non-recourse factoring, Republic provides asset-based lending, direct to consumer financing and recourse factoring for companies throughout the consumer-packaged goods industry. Tae will lead Republic’s efforts in the apparel, accessory, electronic, textile, furniture and importer segments.
Tae has built his career in the California apparel industry, entering his 20th year of providing factoring and asset-based lending solutions. He has a deep industry knowledge of the California factoring and lending markets. Tae is a member of the California chapter of Secured Finance Network, The Professional Club and various trade show associations. Tae will be located out of our new Los Angeles office, headed by its Chief Operating Officer, Matthew Begley, and EVP – Western Regional Manager, Jason Carmona.
Republic is committed to assisting apparel companies through this Pandemic, supporting their reopening plans and the likely challenging market that will follow. Republic understands the negative impacts across most retail, e-commerce and wholesale manufacturers and distributors, and believes it is well-positioned to help. While Republic provides many solutions for clients, in the short term it believes its factoring solutions and inventory funding options provide a unique solution to help apparel companies continue to ship while things begin to stabilize. Republic provides factoring and lending facilities up to $10,000,000, therefore its credit and collection product is able to support both small and large companies. Republic’s President, Robert Meyers said, “We continue to heavily invest into our non-recourse and asset-based lending offerings in the California market. We believe we are well-positioned to pick up market share during this upcoming recession.”
Republic believes in light of continued disruption in the apparel industry, that its commitment to providing factoring solutions will aid business owners in need of creative and flexible non-bank approaches to solving their cashflow needs. Republic’s COO, Matt Begley added, “We were excited when we learned that Tae was available in the market, Tae has been on our list of top performers in the region for many years.” Adding to Matt’s comments, Republic’s President, Robert added, “Some of our best opportunities often come at inopportune times, but it just shows our commitment to the business we are building together, and it all starts with great people.”
Republic is dedicated to helping entrepreneurs throughout the country, with its focus on building out regional offices to better support the local entrepreneurs. Republic’s EVP, Western Regional Manager, Jason Carmona added, “I have known Tae a long time, I am really thrilled he has joined our California based team. Tae has a strong track record that supports our commitment to traditional factoring and supporting the apparel and consumer packaged goods space.”
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 June 8, 2020
When a West Coast privately owned apparel manufacturer sought funding for their 2020 summer orders, they choose Republic Business Credit to finance their supplier payments. Republic approved a flexible, scalable and growth orientated facility to supply large retailers with summer style fashion in anticipation of the reopening of stores. Republic provided credit protection on their receivables and concentration limits for approved customers giving the company the comfort to fulfil the purchase orders in the midst of difficult market conditions caused by Covid-19. The company CEO said, “We are excited about showcasing our summer fashion line in time for the reopening of retailers and wanted a factoring partner that could help us fulfil our initial purchase orders.” The Pandemic has caused postponements in order shipment dates and Republic will support the client in the event the current orders are delayed or postponed. Republic Business Credit provides manufacturers with the support to adapt or pivot as the needs of their customers evolve during the staggered reopening.
The company is a distributor of knitted and woven fabric into the apparel manufacturing community. The company typically finds itself selling into US apparel manufacturers across summer women casual fashion, ranging from skirts, jumpsuits, dresses and tops. The company finds its fabric being used across natural, relaxed and form-fitting California casual wear segment. The company is well-positioned for the post Covid-19 store re-openings as they had no debt entering the 2nd quarter of 2020. While the orders are scheduled to ship in June, the company wanted the confidence provided by Republic’s credit protection ensuring they would get paid for the goods no matter what happened over the summer.
Republic provided a $1.75m non-recourse factoring facility with credit protection and extended customer payment terms eligibility to a West coast based apparel importer. Republic’s funding will eliminate the cashflow gap from when their suppliers need to be paid and when they are paid 120 days later for the goods. The company is unsure what the fall season will 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 lending products will be even more necessary as states reopen in 2020.” He further added, “we are excited to help all small businesses on the front supply lines of getting summer goods in stores and returning closer to 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 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 March 25, 2020
Republic Business Credit partners with an industry expert to provide a scalable Asset-Based Loan for a plant-based products company
LOS ANGELES (PRWEB) MARCH 25, 2020 – When Republic Business Credit’s Jason Carmona, EVP, met with a natural food manufacturer at the Natural Expo West in 2019, they were in search of working capital to seed their accelerated growth prior to their next equity offering. Republic is a proud supporter of the natural food trade shows, including its regional associations, Naturally, in Chicago, Austin and intended expansion to Los Angeles. The total food and beverage market is nearly half a trillion dollars and growing each year, while the natural food and beverage category represents 10.5% of the volume, but nearly 30% of the dollar growth volume across the total industry, according to several sources. Republic is a proud supporter of the food and beverage industry, increasingly more in the natural, organic, vegan, keto, paleo and plant-based categories.
The company provides several branded plant-based food and beverages to large national organic grocery stores, along with several regional and independent grocers throughout California. The companies revenues exceeded $12 million in 2019, with the aim to double revenues in 2020. The company was growing faster than its profits, cashflow negative and had about 6 months of runway left. The company sought a creative asset-based loan that would significantly extend their runway and that would bridge the cashflow gap, maintain their growth pace and increase the company’s value prior to their next round of equity financing. The company used Republic’s debt as non-dilutive cash to increase its valuation ahead of its next equity raise.
As the CEO told Republic shortly after closing, “This debt facility will not only increase the value of our company, but it will allow all of the founders to retain greater ownership of the company and maintain control through the next equity raise, without this debt facility, I could have lost control of the company.”
Republic provided a $4.5 million asset-based loan with no cashflow covenant requirements and a tangible net worth covenant it would only test after the first six months of the facility. Republic’s initial funding provided the founders with the path to continue growing their top-line revenue without the fear of running out of cash. Of the $4.5 million revolver, there was also an initial $1 million inventory sublimit to keep up with the ‘just in time’ demands of the national organic grocery providers.
Republic is excited about its growing portfolio of natural food and beverage companies. Jason Carmona, EVP, said, “Not only are we helping entrepreneurs grow their businesses, we are also passionate about helping a category that provides healthy and generally more sustainable food and beverages that don’t contain all of the preservatives we grew up with. As a Californian, I am proud that our team is helping the natural food industry grow.”
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.
ABOUT REPUBLIC BUSINESS CREDIT
Republic Business Credit provides fast and flexible working capital solutions to help rapidly growing businesses, start-ups, and companies in turnaround or recoverable distressed situations. Winner of the Emerging Growth Company of the Year award from the Louisiana Chapter of the ACG, and the FactoringClub’s Best Factoring Company Award for 2018, the Republic Business Credit team has the expertise necessary to meet the nuanced financial needs of companies across a wide variety of industries. It provides asset-based loans, ledgered lines of credit, non-recourse factoring, factoring and direct to consumer loans including e-commerce working capital. Since its founding in 2011, Republic Business Credit has provided over $10 billion in working capital.
Posted on March 23, 2020
Republic Business Credit works with a private equity group and turnaround consulting firm to refinance Contractor’s lender and provide restorative runway
CHICAGO (PRWEB) MARCH 23, 2020 – When a portfolio company of a Midwest-based private equity group began underperforming, they chose a partner that combined both the industry expertise and wherewithal to provide a complex working capital solution by connecting with Republic Business Credit. Republic always puts its people and relationships at the core of its mission, and those bonds forged the path forward to understanding the story and structuring a facility towards the future.
Republic was chosen by the sponsor and consultant due to its flexibility, creativity, experience and its reputation for approving its original term sheets. The private equity firm acquired the company several years before, but brought in the turnaround consulting firm once it realized the management team needed immediate support and long-term improvement. The turnaround consultant knew of Republic’s commitment to the corporate renewal of companies with its President, Robert Meyers, recently completing his year as President of the Midwest Chapter of the Turnaround Management Association.
The company provides several services to wireless carriers throughout the US as the demand for 5G radiates throughout the technology world. The company provides the contracting, electrical and tower upgrading expertise that is essential for the US to keep up with the rest of the world in the application of 5G. According to several sources, the Global 5G infrastructure market has grown from merely a $0.5 billion in 2016, to be on pace to exceed $23 billion by 2025 with some reports double or triple that number. Republic is proud to support companies that experience recoverable distress and need the right partner to support their future growth plans.
Republic provided a $3,650,000 ledgered line of credit with extended customer eligibility up to 120 days, a $750k Unbilled Receivables facility, along with a $350,000 equipment term loan secured by their equipment and real estate. Republic relied on the sponsors’ commitment, the consultants 13-week cashflow and its knowledge of the industry to structure the right facility for the communications provider. Robert Meyers, President of Republic, said, “It was great to see our leadership team dive headfirst with the equity sponsor and consultant to underwrite a creative solution.” Stewart Chesters, Republic’s CEO, added, “It is one of those deals you will remember for a long time, the cashflows were struggling during the underwriting phase, but our commitment to a client-first approach allowed us to work through it together with the sponsor.” Republic often works with growth-related companies, however, this growth story needed an extra dose of time and patience. Since the initial funding, the company has consistently outperformed its forecast as Republic’s partners promised it would.
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.
ABOUT REPUBLIC BUSINESS CREDIT
Republic Business Credit provides fast and flexible working capital solutions to help rapidly growing businesses, start-ups, and companies in turnaround or recoverable distressed situations. Winner of the Emerging Growth Company of the Year award from the Louisiana Chapter of the ACG, and the FactoringClub’s Best Factoring Company Award for 2018, the Republic Business Credit team has the expertise necessary to meet the nuanced financial needs of companies across a wide variety of industries. It provides asset-based loans, ledgered lines of credit, non-recourse factoring, factoring and direct to consumer loans including e-commerce working capital. Since its founding in 2011, Republic Business Credit has provided over $10 billion in working capital.