Republic Business Credit Provides $7.5 million Line of Credit Facility for Georgia based Pharmaceuticals Distribution Business
May 29, 2013
May 29, 2013
Republic Business Credit works with Regional Bank for broad asset based facility for growing company
Republic Business Credit announced today it provided a $7.5 million Receivables and Inventory line of credit facility to a Georgia based pharmaceuticals distribution business.
The business has grown in recent years and desired to continue its expansion. As a recently established business it did not have the track record to obtain a traditional bank line of credit. Republic was able to not only to provide a substantial Receivables facility but also an Inventory line of credit to support working capital needs. Republic’s lines of credit are collateral based and increase as a business expands allowing it to plan with certainty with respect to their growth plans.
“We see the economy positively transitioning in many sectors and businesses are looking closely at their working capital facilities to see how they will support their growth,” said Stewart Chesters, Republic Business Credit’s chief operating officer. “At Republic we specialize in providing working capital facilities to growing businesses. With our ability to combine receivables, inventory and equipment lines into a single facility we can comprehensively meet businesses’ working capital needs. Our ability to act fast and provide flexible solutions ensures we remain a working capital funder of choice.”
Republic Business Credit provides asset based facilities, including ABL, receivables purchase lines of credit and factoring facilities, inventory, equipment and purchase order lines to provide working capital for rapidly growing, turnaround and start-up companies. Facilities can range from $100,000 to $10 million. Republic Business Credit is targeting a variety of industries, including energy, oil and gas service companies, apparel, manufacturing, temporary staffing, distribution, transportation, food distribution, safety and security, government contracting, marine, printing, janitorial and others.