Republic Business Credit Funds $750,000 Receivables Purchase Facility for Pennsylvania Based Start Up Distribution Company
April 26, 2012
April 26, 2012
Republic provides working capital facility to aid restructuring plan for established business
Republic Business Credit is pleased to announce a $750,000 factoring facility for a start up Pennsylvania based distribution company.
“We see many commercial finance businesses turn down start up companies,” said Allen E. Frederic, Jr, Republic Business Credit’s chief executive officer. “At Republic Business Credit we are pleased to work with experienced entrepreneurs to get their businesses off the ground. Our receivables purchase lines of credit and factoring facilities are ideally suited to get a great business plan operational.”
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 line 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 Frederic, “We are seeing many entrepreneurs starting businesses in the distribution, services and energies sectors and we are excited to support experienced management teams drive our economy forwards. With our own entrepreneurial approach and focus on responsiveness we know how to support our growing clients as they utilize our factoring and receivables purchase line of credit facilities to take advantage of opportunities.