Worcester, MA (PRWEB) February 03, 2014
Republic Business Credit, LLC announces the appointment of Ron Fraser, Worcester, Massachusetts resident and career banking and commercial finance professional, to lead its new business activities in Massachusetts and the New England marketplace.
Republic provides working capital for rapidly growing, turnaround and start-up companies that have annual sales up to $60 million and facility needs of $100,000 to $5 million by utilizing receivables purchase lines of credit and factoring facilities coupled with inventory and equipment facilities where required.
Fraser, a vice president with over twenty five years of experience in banking and commercial finance, joins Republic Business Credit to support the businesses continued growth in the Northeastern marketplace. Fraser is the membership chair for the Worcester Rotary Club and is a graduate of Assumption College.
“I have work with many business owners of rapid growth companies and enjoyed finding the right working capital solution for them,” said Fraser, “That is why I am excited to be working with the team at Republic Business Credit and my banking and commercial finance industry colleagues as they find solutions for growing or restructuring businesses where a traditional banking line may not be the right fit.”
“Republic has receivables finance and factoring operations serving clients nationwide and is recognized as one of the most client-focused businesses of its kind in the country,” said Allen E. Frederic, Jr., chief executive officer. “Ron’s extensive network, knowledge and experience in commercial finance excites us. We enjoy a large client base in the Northeast and as we look to further build on that we know Ron can work well with his commercial finance colleagues and peers in helping businesses find the working capital they need.”
“The companies that can benefit from our services are those that sell their goods and services to credit-worthy entities,” Fraser said. “Our clients have to pay their employees today, meet immediate operating expenses and invest in growing their businesses but their own customers most often pay invoices in 30 to 45 days, sometimes longer. We can offer advances against accounts receivable to bridge these funding gaps so our clients can meet their obligations and continue to grow.”
Fraser will focus on a variety of industries in the New England market, including distribution, temporary staffing, manufacturing, government contracting, consulting, business services, marine and technology. Republic also serves clients doing business in many other areas that sell to other businesses on credit terms.