Republic Provides a $750k Non-recourse Facility to an Apparel Manufacturer
March 18, 2020
March 18, 2020
LOS ANGELES (PRWEB) MARCH 18, 2020 – When an apparel manufacturer sought growth in 2020, they were recommended by a known expert in non-recourse factoring in the California apparel market the vote of confidence to utilize Republic Business Credit’s growing platform of solutions. Since Continental Business Credit became part of Republic in 2019, Republic continues to fund and support growth focused entrepreneurs using its platform of funding solutions. Whether the solution is a traditional non-recourse factoring facility, e-commerce facility, direct to consumer loan or asset based loan, Republic steps up to support Brands.
Republic partnered with a leading broker in the apparel community that wanted a known traditional player with a flexible client focused approach. While there are several options of course, he noticed Republic is always a featured contributor and advertiser in the California Apparel News along with industry events and tradeshows. The broker said, “While I have known of the Republic Business Credit team, as Republic isn’t a new name to the apparel factoring industry in LA, now with Continental combination, Republic is proving its commitment to Brands at a time when others are pausing or being much less creative”
The company provides Made in America private label clothing such as knit shirts and screen printed t-shirts through its wholesale strategy, while reserving its own brand for a direct to consumer only offering. The company saw a surge in growth over the past 12-18 months as the uncertainty of tariffs and trade deals puts is American based supply chain at a distinct advantage. While initially, the facility started as a factoring solution, Republic expects to add on an inventory loan in the coming months to support both the wholesale and direct to consumer sales growth.
Republic provided a $750,000 Non-Recourse Factoring Facility for the larger wholesale accounts as well as some collection only services for some of the boutique sales and house accounts. Republic’s initial funding provided the ability to deliver orders during the first quarter and buy additional raw materials for the upcoming spring and summer seasons. In a short few months since commencing their facility with Republic, the company is on pace to quadruple its revenue compared to the previous year. Their founder attributes it to Republic, “As a result of our increased confidence to buy raw materials, we are able to focus on growing our business.”
“Apparel and consumer goods manufacturers are experiencing the greatest amount of negative press of almost any industry at this moment, from tariffs to trade deals to coronavirus concerns”, says Robert Meyers, President of Republic. Matthew Begley, COO of Republic adds on, “We are proud to support the manufacturing community of Los Angeles, having supported all of its cycles for nearly 25 years and we will be here for another 25 years.” Republic supports brands through various cycles of their growth, increasing facility limits up to $10,000,000 as needed, including adding on inventory, seasonal overadvances or direct to consumer loans.
Republic Business Credit partners with brokers, banks, accountants, sponsors, lawyers and investment banks to collaboratively support entrepreneurs across the United States, to create value, by enabling them to focus on growing successful businesses.
Republic Business Credit provides fast and flexible working capital solutions to help rapidly growing businesses, start-ups, and companies in turnaround or recoverable distressed situations. Winner of the Emerging Growth Company of the Year award from the Louisiana Chapter of the ACG, and the FactoringClub’s Best Factoring Company Award for 2018, the Republic Business Credit team has the expertise necessary to meet the nuanced financial needs of companies across a wide variety of industries. It provides asset-based loans, ledgered lines of credit, non-recourse factoring, factoring and direct to consumer loans including e-commerce working capital. Since its founding in 2011, Republic Business Credit has provided over $10 billion in working capital.
Interested parties may contact Joanne Chesters at 504.262.8624 or email firstname.lastname@example.org.