Republic Business Credit Deploys $3.0 Million Growth Facility for Technology Enabled Staffing Firm
February 11, 2019
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.