Our business has thrived being headquartered in New Orleans
New Orleans, LA (PRWEB) April 09, 2015
Republic Business Credit, a commercial finance company specializing in working capital loans up to $10 million to lower and middle market companies, announced today it has been awarded the Emerging Growth Company of the Year award from the Louisiana Chapter of the Association of Corporate Growth (ACG).
“Having the support of the ACG community and their recognition is a great honor for the entire team,” said Allen E. Frederic Jr., Republic’s chief executive officer. “Achieving profitability in our second year, and in excess of 30% compound annual growth over our first four years is in a significant part thanks to the support of our partners in recommending us to businesses they work with.”
Republic Business Credit has financed over $1.2 billion in working capital fundings to its clients based throughout the United States. It 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.
“The business has thrived being headquartered in New Orleans, despite competition from companies in much larger cities that can be perceived as more traditional centers of commercial finance,” said Stewart Chesters, Republic Business Credit’s chief operating officer. “We have been able to recruit and nurture a strong team here in Louisiana. Our results and this recognition is testament to that.”
Republic Business Credit works with clients in a variety of industries, including temporary staffing, energy, oil and gas service companies, apparel, manufacturing, automotive, distribution, transportation, food distribution, safety and security, government contracting, marine, printing, janitorial and others. The company is co-managed by Allen E. Frederic, Jr., CEO, a 40 year banking and finance veteran in New Orleans and Stewart Chesters, an English transplant to New Orleans who previously served as the U.S. CEO of Bibby Financial, a 200 year old shipping and finance company headquartered in England.