Republic Business Credit Closes $1 million Receivables Purchase Line of Credit for Indiana Based Engineering Company

Republic Business Credit is pleased to announce a $1,000,000 receivables purchase facility for an Indiana based engineering and manufacturing company.

“We work with many established businesses which are no longer a fit for a banking facility, but have viable restructuring plans,” said Stewart Chesters, Republic Business Credit’s chief operating officer. “With our focus on the business’s accounts receivable collateral we are able to provide our client with the working capital to execute its business plans. At Republic Business Credit we can use our receivables purchase lines and factoring facilities innovatively to support these transitions while working with the client and bankers to maintain the banking relationship.”

Republic’s strategy is to provide working capital for rapidly growing, turnaround and start-up companies that have annual sales up to $60 million and facility needs of $50,000 to $5 million by utilizing receivables purchase lines of credit and factoring facilities. Republic Business Credit is targeting a variety of industries, including energy, oil and gas, manufacturing, temporary staffing, distribution, transportation, high-tech, safety and security, government contracting, marine, printing, janitorial, and others.

Added Chesters, “We work constructively with our clients’ bankers, advisers and management team through the transition to maximize a successful outcome for all parties. Our clients recognize our entrepreneurial and responsive approach to be of great value as they utilize our factoring and receivables purchase line of credit facilities to grow their businesses and take advantage of opportunities.”