Republic Business Credit Closes $2 Million Factoring Facility for Louisiana Based Energy Sector Engineering Design Company
December 13, 2011
December 13, 2011
Republic continues to show why it is the working capital funder of choice for the Energy Sector
Republic Business Credit is pleased to announce a $2,000,000 factoring facility for a Louisiana based engineering design and consulting business specializing in the energy sector.
“We continue to see a lot of robust activity in the Louisiana and Texas energy sector as businesses look to extend their working capital facilities to take advantage of opportunities they have,” said Allen E. Frederic, Republic Business Credit’s chief executive officer. “As Republic Business Credit has a management team with decades of experience in the Energy sector we are excited to see local entrepreneurs become our clients. We provide our clients with the covenant free, flexible receivables finance that allows them to focus on growing their business. We see this sector as one of the most vibrant in the nation and by offering the option of factoring and receivables purchase line of credit facilities we expect to continue our leadership in this sector.”
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.
“With nearly $50 million in new client facilities funded in our inaugural year, we are excited about the businesses we can help achieve their growth goals in 2012,” continued Frederic. “As businesses prepare for the future they know they need covenant free flexible funding lines, where they can have direct access to decision makers who are business owners like themselves, not corporate intermediaries.”
Interested parties may contact Republic Business Credit, LLC, at 1-866-722-4987