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.

The post Republic Business Credit’s Fast AR Funding Helps Meet High Demand for Traveling Nurses appeared first on Republic Business Credit.

“Shortly after funding, we adjusted our sales forecast up by 50% for the spring and summer. Thankfully, Republic immediately worked with us to upsize the facility in less than a week,” the company CFO said during the first month of the relationship.

Despite having been in business for more than 30 years, the manufacturer of various wood, tree, garden, and plant-based products sought more flexibility from its senior debt lender to better prepare the company for surges in consumer demand. The company was seeking a senior lender who understood the opportunities and risks inherent in seasonal businesses.

The company services large outdoor retailers, regional distributors, and mom-and-pop hardware stores throughout the country. Demand for products shifts regionally where planting seasons, clean-up seasons, and weather can have a big impact on cash flow and working capital requirements. The company needed to refinance its existing bank line of credit to support its growth.

“We needed a proactive financing source that could react decisively and consistently during an uncertain economic period. We know that Republic will partner with us on the short term and long term needs of our manufacturing company,” the company CEO said.

Republic provided a $4.5 million ledgered line of credit facility secured by accounts receivables, inventory and equipment that injected significant working capital and stability during seasonal periods.  Republic was introduced to the opportunity from a large commercial bank that wanted to provide the treasury management services — but was unable to approve a large enough line of credit during the seasonal periods.

“We are well positioned to support manufacturing and other seasonal businesses that need a dynamic working capital partner,” Republic President Robert Meyers said. “Our underwriting team worked with the company to structure a growth-orientated facility that amended a facility limit increase shortly after the initial funding.”

Republic plans to continue growing with the client.

“We believe our suite of lending products provides us the ability to truly get to know businesses, whether they are private equity supported or entrepreneurially owned. We are excited to support the growth ambitions of our new manufacturing client,” Republic CEO Stewart Chesters said.

The post Republic Business Credit Provides $4.5 Million Ledgered Line of Credit Facility for an Outdoor Products Company appeared first on Republic Business Credit.

The oil field company nearly sought Chapter 11 bankruptcy protection during the recent energy downturn; its private equity partner committed to the company’s future by providing a substantial equity and subordinated debt contribution as a bridge. But they still needed a senior partner who could be flexible.

“Republic was an easy decision, given the firm’s long-standing customer relationships, niche market, and sophisticated management team to continue our support,” the company’s managing director said. “While the private equity fund stepped up, the team needed a more agile debt partnership for the resurgence.

“Republic has funded several of our portfolio companies in the past few years. With an already agreed set of documents, we confidently and easily executed the closing process,” the managing director added.

The company and sponsor sought a growth-orientated ABL facility that would support future growth plans. Republic understood its business and provided industry expertise.

An oil field service and products manufacturer that supplies large energy production and refinement companies throughout the Permian and Eagle Ford basins, the company needed to refinance its existing bank line of credit to access its full availability while providing sufficient liquidity to scale the business back up during the energy recovery. The company specializes in equipment rental, completion services, pressure, and manufactured wellhead products.

The company president said: “We needed a senior debt partner who could react decisively and consistently and who viewed us as a trusted partner in our growth strategy.”

“Republic has demonstrated unique expertise in our industry time and time again while delivering on its promise of providing a unique facility for each of our structured credit and portfolio companies,” a founding partner of the private equity firm said.

Republic Business Credit provided a $3.5 million asset-based loan facility secured by accounts receivables, inventory and equipment that refinanced the company’s incumbent bank lender while providing significantly more borrowing base liquidity at closing. The company closed the senior debt facility with Republic during the third quarter of 2021 and has outperformed its budget every month since closing.

Republic was introduced to the opportunity directly from the private equity fund as a result of Republic’s reputation within the private equity community for lower and middle market, sponsor-owned ABL facilities.

“We continue our focus on providing ABL, direct to consumer loans and factoring to private equity portfolio companies across the country,” Republic President Robert Meyers said. “Our team worked with the company to structure a growth-oriented facility that provided significantly more liquidity to enable the management team to focus on growth.”

Republic CEO Stewart Chesters added: “Since our founding, we have always been committed to providing broad and inclusive access to working capital for lower and middle market companies that seek a better partnership than a traditional bank loan structure will provide.”

Republic Business Credit 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.

The post Republic Business Credit Provides $3.5 Million Asset-Based Loan for Oil Field Services Company appeared first on Republic Business Credit.

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.

The post Republic’s Fast AR Funding Provides a $500,000 Selective Factoring Facility for IT Specialist Staffing Firm appeared first on Republic Business Credit.

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

The post Republic Provides a $5.5 million Ledgered Line of Credit to a Texas-Based Oil Field Service company appeared first on Republic Business Credit.

When a Midwest based private equity owned promotional products manufacturer was getting back to business following the pandemic, their regional bank wanted to limit their access to working capital.  Despite returning to profitability this year and a committed gulf region based private equity sponsor, they partnered Republic Business Credit to refinance their credit facility.  In addition to their expected growth as tradeshows return, their existing customers came roaring back with larger than normal orders as they feared potential supply chain complications down the road.  The company sought a growth-orientated ABL facility that would unconditionally support their growth and post covid business renewal plans.

The company is a promotional products manufacturer that services large fortune 1,000 companies across the automotive, technology, finance, energy and retail industries throughout the US.  The company specializes in custom manufacturing, typically a wide variety of products and solutions throughout the year as needs evolve.  Additionally, they have recently vertically integrated several supply-chain services to supplement their product manufacturing by adding value to their warehousing, fulfillment, and distribution support.

The business needed to refinance its existing bank line of credit in order to accelerate its growth and product development plans.  The company CEO said, “We needed a finance source that could react decisively, consistently and enjoyed being part of our story as we explore several growth options across our product range during a challenging economic period,” and a managing partner from the private equity sponsor added, “Republic has delivered on their promises so far as this is our first portfolio company partnership together, we appreciated that Republic’s leadership team got into the weeds with us to make sure we properly structured the credit”

Republic Business Credit provided a $3 million asset-based loan facility secured by accounts receivables that refinanced their incumbent bank lender and provided significantly more borrowing base availability at closing.  Republic was introduced to the opportunity directly from the private equity fund as a result of our reputation within the private equity community for lower and middle market sponsor owned ABL facilities.  Republic’s President, Robert Meyers, said, “We are focused on providing ABL, direct to consumer loans and factoring to private equity owned companies across the country,” he further added, “Our team worked with the Company to structure a growth orientated facility that provided significantly more liquidity to enable the management team to focus on growth.” Republic’s CEO, Stewart Chesters added, “Since our founding, we have always been committed to providing broad and inclusive access to working capital to lower and middle-market companies that seek a better partnership than a traditional loan structure will provide.”

Republic Business Credit 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.  Republic’s CEO, Stewart Chesters further added, “We believe our suite of lending and factoring products will be more in demand as companies emerge from the fog of covid and get back to growing.”

The post Republic Provides a $3 million Asset Based Loan for a Manufacturing Company appeared first on Republic Business Credit.

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.

The post Republic Provides a $1.5m Traditional Factoring Facility for a Los Angeles based Apparel Importer appeared first on Republic Business Credit.

LOS ANGELES (PRWEB) SEPTEMBER 24, 2020

When a West Coast-based natural food manufacturing company sought more funding than their incumbent bank lender could provide, they fed the order to Republic Business Credit for increased access to working capital. Republic approved a scalable and non-dilutive growth-orientated facility that provided availability on their account receivables. The natural food ingredient manufacturing company was looking to accelerate its growth across its product lines. Republic is a determined supporter of the natural food trade shows, including its regional associations, Naturally. The total food and beverage market is over half a trillion dollars and continues to grow each year. The natural food and beverage category represents 10.5% of the volume, but nearly 30% of the dollar growth volume across the total industry, according to several sources. Republic is a proud supporter of the food and beverage industry, increasingly more in the natural, organic, ingredient, and plant-based categories.

The food manufacturing company provides several unique ingredients to natural food brands across the country. The company sells to distributors, co-packers, and manufacturers of healthy food products across the country. The rapidly growing company outpaced its sales targets in the midst of the Covid-19 pandemic and wanted a partner to help double its revenue next year. As the founder told Republic shortly after closing, “This debt facility will not only increase our ability to grow as a company, but it will allow us to retain greater ownership of the company as we didn’t need to raise additional equity.”

Republic provided a $2.75m ledgered line of credit facility with to a West coast-based food manufacturing company. Republic’s funding will eliminate the cashflow gap from the difference in timing from their suppliers and their customer payments. Republic structured the ledgered factoring facility to allow for extended terms without any financial covenants or field exam requirements. The company expects a strong close to 2020 and plans to ask for a facility limit increase in early 2021. Republic’s President, Robert Meyers said, “We believe our factoring, ABL and inventory lending products are great supplements to the vision of our growing portfolio of food brands.” He further added, “we are excited to help enable our entrepreneurs to focus on adding revenue while knowing they have a supportive partner to weather any supply chain or growth issues they might encounter during the pandemic.” Republic’s CEO, Stewart Chesters, added: “The food supply chain is critical to everyone’s well-being, we are excited to help so many food companies as they lead us into healthy food alternatives.” Republic Business Credit provides factoring, asset-based lending and direct to consumer facilities up to $10,000,000 across the United States.

Republic Business Credit 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.

The post Republic Provides a $2.75m Ledgered Line of Credit for a Food Manufacturing Company appeared first on Republic Business Credit.

LOS ANGELES (PRWEB) SEPTEMBER 22, 2020

When a Los Angeles apparel manufacturing and import company sought funding for their 2020 Fall and Winter orders, they chose Republic Business Credit to fuel their growth. Republic approved a scalable traditional 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 Covid-19. 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 will support the client 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, pantsuits, 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 2nd quarter of 2020. 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 cash flow 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 states reopen in 2020.” He further added, “We are excited to help all brands on the front lines of supplying store reopening’s and returning closer to our normal lives.”

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.

The post Republic Provides a $1.5m Traditional Factoring Facility for a Los Angeles based Apparel Importer appeared first on Republic Business Credit.

LOS ANGELES (PRWEB) SEPTEMBER 17, 2020

When a West Coast family-owned apparel importer wanted credit and collection services, they chose Republic Business Credit to help support their credit decisions during the Covid-19 pandemic. Republic provided a stress-free, credit protection solution that gives comfort for any new orders the company will consider shipping to both major and regional retailers. According to a recent CNBC article, as the pandemic stretches on, the number of retail bankruptcies are quickly approaching the highest number in over a decade. As of early August, over 43 retailers have filed bankruptcy, with many more expected to follow suit before the pandemic is over. Republic believes in the future of retail and is continuing to approve orders for its clients despite what some of the newspapers might refer to as the “end of retail.”

The company has seen a recent increase in shipments for their spring and summer orders and is starting to slot the upcoming holiday season. The company founder said, “The comfort of knowing that we will collect our wholesale receivables provides us the confidence to continue supplying large retailers while increasing our responsiveness to fill orders to established retailers that are reopening in certain core markets.”

The company primarily imports a women’s fashion line in the light, work from home, and leisure categories. They sell unique style dresses, blouses, pants, and loungewear in the medium price segment. The company believes it is well-positioned for the post Pandemic transition having minimal debt and the ability to limit their overhead expenses as an import company, but sees an unpredictable year in terms of revenue and credit worthiness of retailers. The company finally set up its non-borrowing credit facility after many years of conversations in light of everything going around the world. The credit protection allows the company to place an order with its vendors, knowing that they will be able to pay their suppliers assuming the product successfully arrives at the retailer.

Republic Business Credit provided a non-borrowing, traditional factoring facility with credit protection and collection services, with minimal annual volume requirements. Republic provided the credit information to support the decision for which orders to take and which ones to avoid during the recession. The company believes there will be an uptick in volume as the year progresses but it might be unevenly spread across his customer base depending on reopening guidelines.

“We will always support the apparel and consumer packaged goods industry with our traditional factoring product,” said Matthew Begley, COO of Republic, continuing, “We added our direct to consumer and asset-based lending products to support a wider range of businesses cycles throughout the consumer packaged goods community.” Republic provides factoring, asset-based lending, and direct to consumer facilities up to $10,000,000 to businesses throughout the country.

Republic Business Credit 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.

The post Non-Borrowing Factoring Facility provided by Republic to an Apparel Importer appeared first on Republic Business Credit.