Payroll funding provides financial freedom for start-up to focus on growth.
NEW ORLEANS, Nov. 19, 2024 /PRNewswire-PRWeb/ -- Finding the right financial partner is critical for every company but especially for start-ups, which is why an East Coast temporary staffing firm sought out an industry expert in Republic Business Credit.
By partnering with Republic, the temporary staffing company was able to unlock the necessary working capital to meet all its payroll needs so it could focus on growing the business. The founder said, "It felt great to match our funding needs with staffing experts who could help us achieve our goals."
Republic's Fast AR factoring solution delivered a $250,000 working capital solution that empowered the company's founders with the financial freedom to not only match payroll demands but also support its growth initiatives in 2025. Since its initial funding, the company has secured five new customers and will be looking to increase its facility to $550,000 by the end of the month.
"Employment is the backbone of our economy and staffing companies are a critical component of that," stated William Kemp, SVP of Business Development for Republic. "We are proud to support a business that is poised to have a great impact on both individual people and the nation's economy as a whole."
Based in the Northeast, the staffing enterprise specializes in the technology and healthcare market segments and has successfully placed employees in companies across the nation. This includes large, retail-focused enterprises that support consumer electronic devices across the country.
"We work with companies in many different stages of their business cycle, but new businesses are always special to us," said Stewart Chesters, Republic's CEO. "We enjoy partnering with a company from its beginning stages and take great pride in its continued growth throughout its entrepreneurial journey."
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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