Republic Business Credit Structures $1.0 million Facility for Staffing Firm

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Republic increased the borrowing ability while lowering costs for a rapidly growing staffing firm experiencing nearly triple digit growth

Rapidly growing companies require a comprehensive solution to fuel their immediate growth needs

When a consultant sought to free its Midwestern based client from an expensive financing solution, they tasked Republic Business Credit to provide the necessary payroll funding. Republic structured a larger, more affordable facility while simultaneously partnering with a full back office solutions provider to support the clients future growth plans.

The client’s high growth rate required a quickly scalable facility to maximize their borrowing ability in order to fulfill weekly payroll obligations and continued personnel investments. Republic’s facility eliminated any short term cash-flow fears while allowing the owners to focus their growth. Republic has deep ties into the staffing industry and can provide more than just funding oriented solutions when necessary.

Republic provided the minority owned entrepreneurial company with a $1,000,000 receivables purchase line of credit so they could comfortable secure additional customer contracts in 2019.

“Rapidly growing companies require a comprehensive solution to fuel their immediate growth needs," said Robert Meyers, Chief Commercial Officer of Republic. “Republic is proud to provide a client focused solution that partnered with an industry leading back-office provider that will provide them with the tools for unlimited growth.”

Republic Business Credit partners with entrepreneurs across the United States, to create value, and enable them to focus on growing successful businesses.

ABOUT REPUBLIC BUSINESS CREDIT

Republic Business Credit provides flexible working capital solutions to help rapidly growing businesses, start-ups, and companies in turnaround or recoverable distressed situations. Winner of the Emerging Growth Company of the Year award from the Louisiana Chapter of the Association of Corporate Growth, and the FactoringClub’s Best Factoring Company Award for 2018, the Republic Business Credit team has the expertise necessary to meet the nuanced financial needs of companies across a wide variety of industries. It provides receivables finance, factoring and asset-based facilities, including ABL, receivables purchase lines of credit, inventory, equipment and purchase order lines. Since its founding in 2011, Republic Business Credit has provided over $3 billion in fast, flexible working capital.

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Joanne Chesters
@republicbc
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