At Republic we are always happy to work with our clients, bankers and other capital providers to provide a broad working capital base for them to be able to sustainably grow their business.
New Orleans, LA (PRWEB) January 31, 2013
Republic Business Credit announced today it provided a $2.5 million facility to a growing Houston-based food processor.
The business needed financing on a broad asset base to support its comprehensive growth plans. Republic worked with its existing established bankers to supplement their equipment based facilities with Republic’s accounts receivables and inventory lines and an on call purchase order facility.
“Many finance companies look to sell their preferred solution to the client, ignoring the established relationships that the business already has in place,” said Stewart Chesters, Republic Business Credit’s chief operating officer. “At Republic we are always happy to work with our clients, bankers and other capital providers to provide a broad working capital base for them to be able to sustainably grow their business and take advantage of the opportunities that arise. Our ability to act fast and provide flexible solutions has ensured that we remain a working capital funder of choice.”
Republic’s working capital facility combined receivables purchase lines of credit with an inventory line of credit and an on call purchase order facility so the business could take advantage of commercially advantageous opportunities for large scale purchases. Republic worked cooperatively with the businesses bankers to ensure that the company’s working capital facilities worked effectively in conjunction with its existing equipment finance lines.
Republic Business Credit provides asset based facilities, including receivable purchase line 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 $5 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.