The flexible facility will fuel the company's growing payroll needs.
NEW ORLEANS, Jan. 22, 2025 /PRNewswire-PRWeb/ -- Republic Business Credit worked through the winter holiday season to fund a $750,000 factoring facility for a Northeast business consulting agency, which specializes in helping technology companies optimize revenue and operational efficiency.
The founder of the company said, "We needed to fund our largest payroll within a week and had to do so prior to the end of the year. Republic partnered with us through the holiday season to meet our needs when other factoring companies said they couldn't do it that quickly."
Republic structured a flexible recourse factoring facility with a 90% advance rate on accounts receivables, enabling the company to effectively manage and accelerate its cash flow. The company can now fully support its ongoing payroll needs with confidence, while pursuing future expansion opportunities.
"Our team understood that this business model would work because the company had been operating for over 20 years," said Eric Dorner, VP of Business Development at Republic. "With that long-term success in mind, we were able to offer a flexible, competitive financing solution that will support the company's continued growth."
The company provides consultation services to large tech companies that suffer from inefficiencies within their revenue streams. The company's executives expect that this financing will allow it to exceed its 2025 goals by more than 25%.
"We're thrilled to partner with such a promising firm in the technology consulting space," said Robert Meyers, President of Republic. "Our ability to meet the company's deadlines exemplifies our commitment to supporting businesses with innovative financial solutions that drive success."
About Republic Business Credit
Republic Business Credit is a nationally recognized commercial finance company supporting the working capital requirements of companies nationwide, including private equity and entrepreneurial businesses. Republic provides asset-based lending, e-commerce, ledgered lines of credit, factoring and Fast AR Funding. Republic partners with its clients to provide up to $15 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress. Republic is recognized by the Secured Finance Network as one of the largest finance companies in the United States of America. Republic is proud to be headquartered in New Orleans with additional offices in Chicago, Los Angeles, Houston and Atlanta. Republic is a wholly owned subsidiary of Renasant Bank.
Media Contact
Emma Amorose, Republic Business Credit, 412.807.9236, [email protected], republicbc.com
SOURCE Republic Business Credit
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