Republic's experience in the staffing industry made it a key fit for partnership.
ATLANTA, Dec. 10, 2024 /PRNewswire-PRWeb/ -- An experienced temporary staffing management team was searching for a factoring company for their latest entrepreneurial venture, seeking a trusted local financial partner that understood the temporary staffing industry. The company initially reached out to the Buckhead branch of Renasant Bank, which provides its treasury services.
Republic Business Credit, a wholly owned subsidiary of Renasant, provided a $750,000 factoring facility that would be quickly scalable as the company takes on new contracts and help to fund all of its payroll needs. Fred Andrew, Managing Director of Renasant Bank added, "Republic was exactly the solution our client needed to accelerate its access to payroll funding so it can confidently build its business."
The company has a history of success placing top talent at fortune 500 companies throughout Georgia and across the Southeast. The company focuses on IT-related placements and is poised to undergo a national expansion in the coming months. The company's financial partnership with Republic will empower it to expand its operations and serve larger clients nationwide.
"We have extensive expertise across the temporary staffing sector, including light industrial, IT, healthcare, administration and more industries that seek our streamlined onboarding and funding processes, which allow our clients to scale rapidly," said Robert Meyers, President of Republic. "We are proud to support so many temporary service companies across the country. It has always been one of our core strengths as a team."
This deal marks another successful transaction for Brian Resutek, SVP, Southeast Regional Manager at Republic. Resutek, who joined Republic in April 2024, brings over a decade of experience in factoring and asset-based lending in the Atlanta market.
"Republic's comprehensive experience in the staffing field allowed us to close this very quickly and efficiently," said Resutek. "I'm fortunate to work hand in hand with our strong team of professionals, from credit and underwriting to closing, who ensure a smooth and effective client onboarding process."
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
Share this article