Republic Business Credit is proud to announce it recently provided a $6.75 million factoring legered line of credit facility to a women and minority-owned government contractor, with an accordion up to $10 million.

When the women and minority-owned government contractor secured an additional multi-year contract with the U.S. Department of Defense, the company sought a funding partner that could keep pace with its rapidly expanding needs. The company’s Small Business Investment Corporation mezzanine finance allowed it to refinance its limited ABL loan. Republic was able to help the company refinance that loan while effectively meeting the increased demand of the new contract.

The government distributor designs, fabricates and distributes tool kits. It primarily provides its products to federal government agencies, with a focus on the various purchasing offices within the Department of Defense. The company also provides custom fabrication services to some commercial customers located throughout the southeast region.

“We supply products and toolkits to several federal government agencies, in addition to the numerous other products we provide to our other government and commercial customer bases. The needs of our customer base can ebb and flow depending on the life expectancy of the tools,” the company president said. “It was important for us to find a confident funding relationship. Republic understands our industry and our customers. We are excited to partner with such a dynamic firm that understands the flexibility we need to grow our business.”

Republic structured a $6.75 million factoring line of credit that provided availability on all of the company’s government and commercial accounts receivables, including an accordion up to $10 million. Shortly after extending the funding, Republic added a supplemental $250,000 mobilization facility, which can make the difference for women and minority-owned companies that need to quickly increase production to fulfill a large government contract. The mobilization advance helps accelerate the creation of cashflows because, during periods of growth, profits often lag behind as companies scale quickly.

“We are proud to partner with women- and minority-owned entrepreneurial businesses that have strong, foundational community support and are looking for the right partner to get to the next level and achieve incredible success,” said Republic President, Robert Meyers.

Republic’s Senior Vice President, Leigh Guglielmo, added: “This company provides essential products to the Department of Defense and is a key local supplier in the southeast region that supports our national defense mission across the world.”

“We are incredibly proud of our armed services, and it is an honor to support entrepreneurs that align with our women, minority- and veteran-owned government contractor partnerships,” Meyers said.

“Our unique lending products provide us the ability to truly get to know the businesses with whom we partner, and we are especially proud when we can support diverse, women- and minority-owned companies that reflect our own team,” said Republic CEO Stewart Chesters. “We won the Secured Finance Networks Alignment Award for our performance across Diversity, Equity and Inclusion.  It’s great when we can provide that same support across these valuable, thriving communities.”

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A designer, manufacturer and wholesaler of missy and junior women’s clothes needed a partner — and fast — to meet the shipping needs of its spring and summer collections. The company turned to Republic Business Credit to stitch together the necessary financing.

Headquartered in Los Angeles, the company targets women consumers with a line of clothing sold through several different labels at major retailers including Nordstrom, Stitch Fix, Bealls, Dillard’s and Burlington. The client needed a solution within a few weeks as the contract with the incumbent factoring firm was expiring. The company learned of Republic through a referral.

“Having known this company since its founding more than 20 years ago, it was exciting they reached out to us. Our California team worked quickly to put together the deal for a $6.5 million traditional factoring facility to help build ahead of their busy shipping seasons,” Republic’s SVP, Tae Chung said. “We continue to demonstrate our knowledge and experience in the apparel space, which is rewarding.”

The company specializes in soft knit tops, dresses, cardigans, blouses, pants and skirts.

“As we looked to ship our seasonal collections, we wanted a stable and credible partner,” the company founder said. “Republic was there to help in the moment and will be with us in the future as we grow with our brands.”

Republic’s Executive Vice President Jason Carmona helped onboard the client during the quick timeline.

“With a dedicated Los Angeles team, Republic is proud to support the apparel community and plans to add at least 30 more brands in 2023,” Carmona said. “Being referred into this transaction from several industry insiders is a testament to our support from the community and our momentum throughout the finance and apparel communities.”

“We are committed to supporting brands across various channels of business, and our complimentary product suite of asset-based lending, traditional factoring and e-commerce supports brands throughout their unique growth cycles,” Republic President Robert Meyers said.

Republic partners with accountants, lawyers, private equity, investment bankers, banks, consultants, independent sponsors, Small Business Investment Corporations and other referral partners within the apparel community. Republic supports the working capital needs of companies across the United States with needs up to $15 million.

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When the COVID-19 pandemic slowed sales and disrupted supply chains for a Midwest supplier of pipes, valves and oil transmission products and services, the company and its private equity partner needed a flexible solution. Republic Business Credit provided a $5 million factoring facility with options to offer the best fit. The private equity fund and the supplier chose Republic’s ledgered line of credit that features the pricing structure of an ABL facility.

The solution was quicker and more scalable than an asset-based loan.

“We were still dealing with supply chain issues and preferred the covenant free option that Republic provided in an ABL & factoring option at the same cost. Republic’s flexibility was crucial and allowed us to choose what was best for our unique situation,” the private equity fund’s managing partner said.

The supplier of pipes and valves is based in Kansas City, Mo. Its top three customers are large gas and energy companies. Sales from the three represented 53% of total revenue at FYE 2021. The company provides value-add modifications of valves that are complemented by pipes, fittings and other distributed products to various midstream natural gas customers.

But COVID-19 and the ramp-down of a major project caused the company to seek out unique solutions and a creative finance package.

“We consistently partner with private equity for both of our ABL and factoring solutions,” Republic President Robert Meyers said. “We find that while people might prefer ABL on the surface, in reality they often like the flexibility of a factoring facility when the situation fits. As we continue to build out our suite of products, we are proud to see private equity and independent sponsors represent more than 40% of our clients and believe we are a rare dynamic partner who can provide working capital solutions to most portfolio companies.”

The pipe and valve supplier anticipates its performance will improve as customers order more product, supply chain issues improve and margins increase due to headcount reductions and the renewal of the company’s direct relationship with its main supplier. The company was founded in 1956. In 2016, it filed for bankruptcy. Assets were acquired through a stalking horse bid of approximately $25 million, which was court approved that same year.

The company now operates out of six facilities across the United States.

Republic’s CEO Stewart Chesters said: “We believe our suite of lending and factoring products will be more in demand as companies work through the growing uncertainties of 2023 and beyond. This company is an example of that — how the unique financial products we offer can be a lifeline when traditional banking products aren’t a good fit.”

Republic partners with 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.

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The entrepreneurs needed to focus on growth, not payroll constraints. Fast AR Funding, a program of Republic Business Credit, provided a $400,000 growth-orientated selective factoring solution with a high advance rate to jumpstart the company’s founding. The partnership with Fast AR and its decade-long track record of flexibility enabled the company to address market and customer needs without having to worry about how fast they were growing.

“Fast AR Funding provided a dynamic solution to our biggest fears about meeting our growing payroll needs, cashflow issues and meeting our customer demand,” the staffing company president said. “Fast AR Funding’s selective invoice financing and no term contract was just what the doctor ordered. It provided us with the true freedom to focus on growth.”

The upstart company provides temporary and permanent employees to hospitals and medical centers located throughout the southwestern United States. Since the start of the pandemic, both urban and rural areas faced staffing challenges and needed quick solutions. Traveling nurse programs have exploded as a result. The upstart has already tripled its forecast so far in 2022 and sought an increase in its factoring facility to $1 million. Fast AR is the company’s chosen product over other alternatives.

Fast AR provides a scalable, selective factoring facility with a seamless online application and technology-enabled approval process. It allowed the initial funding to flow within 48 hours of receiving the first invoice. The facility allows the client to submit invoices from specific customers that they needed to provide funding for a growing payroll without the hassle of minimum sales volumes or long-term contracts.

Republic’s VP of Business Development, William Kemp, said: “Entrepreneurs in the temporary staffing business, especially healthcare, have limited options of financing to support their growth.”

“The exponential growth potential of staffing firms makes it difficult for them to obtain traditional bank financing. Factoring works seamlessly as they grow and develop,” Republic CEO Stewart Chesters said.

Fast AR Funding supports staffing, transportation, manufacturing, distribution, food, beverage and distribution companies located throughout the United States.

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Republic’s Fast AR Funding provided a $500,000 selective factoring facility in less than a week that allowed the client, with a newly established subsidiary in the Northeastern United States, to confidently place new, temporary hires the following week.

The multinational, specialist IT staffing and consulting company provides temporary placement of qualified cloud and data specialists to Fortune 500 companies. The company prides itself on finding highly skilled, dependable, and best-in-class temporary staff and project-based consultants. The ability to provide shorter-term and longer-term placement options provide flexibility for their clients.

And with traditional working routines uprooted over the past few years, the demand for skilled workers with expertise in remote and hybrid systems-based work is on the rise. The company needed Republic’s support and a quick turnaround.

“The number of applications, interfaces, systems, and cybersecurity worries have grown exponentially in the past few years. Our clients are excited about our ability to bring a dynamic and agile workforce to the growing complexities of information technology,” the parent company’s CEO said.  “Fast AR’s team truly were experts in the temporary staffing space, providing a lot of comfort that they understood our business and could scale quickly with our plans.”

Fast AR bridges the payroll and working capital gap that exists for every staffing firm between the time the invoice is created and months later when payment is received from the customer. Fast AR provided a selective factoring facility with a seamless online application process.

The staffing company had built successful operations throughout the U.K. and Europe and wanted to expand operations in the U.S. The need for talented temporary workers was so great, that the firm almost immediately identified additional customers.

Fast AR established the $500,000 selective factoring facility quickly, building confidence toward the company’s ability to build and scale in the U.S. Fast AR allows clients to submit invoices as needed for payroll funding without any restrictive minimums or contract terms. Clients can choose the flexibility, speed, and responsiveness of Fast AR over factoring alternatives.

“Selective Factoring is a dynamic and quick solution for entrepreneurs in the temporary IT staffing space,” said Republic’s Vice President of Business Development, William Kemp. “Our flexible approach allows businesses to focus on growth while not worrying about their working capital.”

President Robert Meyers added: “Fast AR is a fantastic way to support startup and early-stage entrepreneurs, and we have the capability to grow with them into larger factoring facilities, ledgered lines of credit, and asset-based lending products as they mature.”

In addition to temporary staffing companies, Fast AR Funding supports entrepreneurs in transportation, food, beverage, manufacturing, and distribution across the country.

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Republic fully approved the client’s limits for both standard and extended terms up to 120 days that were necessary for the emerging company to sell into major stores during the initial phase of growth.

“We are excited about showcasing and delivering our growing line of products. We needed a trusted factoring partner who could grow with us,” the accessory company CEO said.

As supply chain challenges show no signs of abating anytime soon, Republic continues to support its clients through postponements, delays and delivery date uncertainties experienced throughout retail supply chains. Supply chains are tough for all companies, but they are especially challenging for those in the initial growth stages of development. The Los Angeles company is a distributor of watches and other accessories, covering the dress, field, pilot, dive and racing-driven consumer products. Within those watch and accessory categories, there are significant brand names that additionally differentiate across the movements in mechanical, automatic and Quartz.

The founder of the company is passionate about watches and other accessories. “We have come a long way from the old days of the pocket watch; however, the secondhand and resale watch market is an exciting, growing category of fashion. We needed a partner who understood the industry and was excited about our category.”

Republic provided a $1.25 million traditional factoring facility with credit protection and extended customer payment terms. Republic’s funding will eliminate the nascent company’s cashflow gap between paying suppliers and receiving delayed payments from major retailers. The company is confident it found a trusted and consistent partner to overcome supply chain challenges.

Republic Business Credit COO Matt Begley said: “We believe our factoring, asset-based lending and direct to consumer products partner well with growing businesses that need industry expertise and adaptable partners. We are excited to support growing brands and are passionate about the watch and accessory categories to supplement our apparel and textile factoring business.”

Republic has proudly supported clients throughout this uncertain and unpredictable era in retail. Republic provides importers, distributors and manufacturers with the necessary support and guidance to adapt to the mix of opportunities and challenges that lie ahead.

“Since joining Republic during early 2020, we have expanded our capabilities and added clients at a lightning pace who want great client service, in addition to their working capital needs,” said Tae Chung, SVP of Business Development.

Republic partners with 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.

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Republic was selected for its expertise, reputation, and long-term support of the oil field service industry.  Additionally, Republic worked with the company and private sponsor over several years to time up the refinance to take advantage of market conditions and opportunities.

The CEO of the company said, “Republic worked with us over the years through the normal ups and downs of the energy industry, so it was ideal and easy to partner with an entrepreneurial finance company during an uncertain but potentially opportunistic market for us.”

The manufacturer was formed through an initial acquisition and a series of smaller add-on acquisitions in the oil field service industry, with the aims of vertically integrating both the product and service suite of solutions to energy companies located throughout Texas and Louisiana.

The company is able to provide manufacturing, installation, welding, fabrication, and repair services across its client base.  The flexibility to focus its efforts across the suite of products uniquely situated it to outperform its competitors during the downturn and take advantage of the opportunities during a rebound in energy prices.

The oil field service company is led by a dynamic and experienced management team that have been successful in the oil field industry for decades.  The company prides itself on a diverse customer base that includes both energy and non-energy dependent customers that seek added value partners in the supply chain.

Republic provided a $5.5 million Ledgered Line of Credit Facility to provide funding for their payroll, material costs, equipment repair, and the acquisition of new assets to match their increased demand forecast in 2022.  “Companies working in the Permian and Eagle Ford shale basins are challenged by unprecedented supply and demand issues,” said Robert Meyers, President of Republic. “We have always been supportive of customers in the oil field industry, so we are able to understand the rapid growth demands combined with the uncertainty and unpredictability of present market conditions.”

Leigh Guglielmo, SVP of Business Development and recent Women in Secured Finance award winner, added, “We partner with many of the downstream and midstream service firms to support the largest employer of our communities across the Gulf Region and it was great to partner with another well-run company.”

Republic Business Credit partners with banks, accountants, private equity sponsors, independent 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

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When a UK headquartered temporary healthcare staffing provider decided to open operations in the US, they tasked Fast AR Funding to keep up with demand.  Shortly after setting up in the US, the domestic growth quickly outpaced expectations and the company found themselves with a cashflow gap to keep up with their growing payroll.  The UK parent turned to Fast AR Funding to enable its US operations to become self-sufficient as they planned to expand in other countries as well. Fast AR Funding provided a $200,000 spot factoring solution with a high advance rate to support their growing payroll needs in 2020 and beyond.  Within the first six months as a client, Fast AR increased the facility limit to over $1,000,000 as they saw a huge surge in the demand for nurses across the country.

The nurse staffing company provides temporary placement of qualified healthcare professionals to hospitals, regional medical providers, and Healthcare VMOs. The demand for travel nurses across the different regions of the country will continue during the pandemic as healthcare regions continue to see consistent fluctuations in the number of cases and corresponding medical personnel necessary.  Hospitals and healthcare systems continue to react to the virus hotspots across the country.  CEO of the UK parent said, “Fast AR Funding closed our facility in only a few days and has allowed us to keep up with the hospital demand without any hesitation”; he further added, “Our biggest surprise with Fast AR Funding is the instantaneous access to decision makers that understand our business and continue to increase our facility as necessary, we are on pace to need more than $2,000,000 in working capital by the end of October.”

In order to ensure their payroll needs were covered, the company sought Fast AR’s expertise in the temporary staffing space. Fast AR provided a selective factoring facility with our seamless online application and technology enabled approval process.  Fast AR Funding provided the first funding within 72 hours that allowed the client to meet their payroll the same week they completed the application.  Fast AR’s selective factoring facility allows the client to submit any amount of invoices needed for payroll without any minimums or contracts.  The company continues to choose the flexibility and speed of Fast AR over other factoring alternatives. “Factoring is a great solution for entrepreneurs in the temporary staffing space” said Fast AR Funding’s New Customer Manager – William Kemp; he further added “Despite the ongoing pandemic, it is wonderful to help a great company succeed, grow their business and help support our healthcare community’s response to Covid 19 across the country.”

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When a Los Angeles apparel manufacturing and import company sought funding for their Fall and Winter orders, they chose Republic Business Credit to fuel their growth. Republic approved a scalable traditional factoring facility to support their expected growth in anticipation of the orders they have received for the additional reopening of retail stores.  Republic fully approved the customer limits necessary to enable the company to fulfill large purchase orders in the midst of the Pandemic. The Apparel company CEO said, “We are excited about showcasing our growing fashion line and wanted a factoring partner that could grow with our brand.”

As the Pandemic has caused postponements, cancellations, and shipment uncertainty throughout the retail supply chains, Republic has supported clients throughout this uncertain and unpredictable period in the history of retail.  Republic Business Credit provides apparel importers, distributors, and manufacturers with the necessary support and guidance to adapt during the staggered reopening.

The company is a distributor of women’s comfy chic dresses, pant suits, and skirts that are ideal for either working from home or going out.  The brand is focused primarily on manufacturing in the USA and sources nearly all of its material domestically.  The passion for the brand comes from a balance of fit and texture for working professional women.  The brand is well positioned for the post Covid-19 store re-openings as they had no debt entering the 2^nd quarter of 2021.  The brand sought a partnership with an entrepreneurial finance company with deep industry experience and the ability to scale up its facility.

Republic provided a $1.5m traditional factoring facility with credit protection and extended customer payment terms for a Los Angeles based brand.  Republic’s funding will eliminate their cashflow gap between paying suppliers and receiving payments from retailers.  The company is unsure what the holiday season will likely bring, but it is confident they have a partner during all of the “return to work” stages.  Republic’s COO, Matt Begley said, “We believe our factoring and asset-based lending products will partner well with businesses as the economy gets back to a growth track.” He further added, “We are excited to help all brands on the front lines of the fourth quarter and future growth.”

Republic Business Credit provides factoring, asset-based lending and direct to consumer facilities up to $10,000,000 across the United States. Republic partners with 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.

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