Republic supports a California-based consumer packaged goods entrepreneur to support growth amid supply chain challenges
NEW ORLEANS, June 29, 2022 /PRNewswire-PRWeb/ -- When a Los Angeles-based consumer packaged goods distributor sought funding to underpin its initial growth for spring orders, the company selected Republic Business Credit. Republic approved a scalable, traditional factoring facility to support the accessory company's expected growth, fulfill initial orders and provide cushion for summer demand.
Republic fully approved the client's limits for both standard and extended terms up to 120 days that were necessary for the emerging company to sell into major stores during the initial phase of growth.
"We are excited about showcasing and delivering our growing line of products. We needed a trusted factoring partner who could grow with us," the accessory company CEO said.
As supply chain challenges show no signs of abating anytime soon, Republic continues to support its clients through postponements, delays and delivery date uncertainties experienced throughout retail supply chains. Supply chains are tough for all companies, but they are especially challenging for those in the initial growth stages of development. The Los Angeles company is a distributor of watches and other accessories, covering the dress, field, pilot, dive and racing-driven consumer products. Within those watch and accessory categories, there are significant brand names that additionally differentiate across the movements in mechanical, automatic and Quartz.
The founder of the company is passionate about watches and other accessories. "We have come a long way from the old days of the pocket watch; however, the secondhand and resale watch market is an exciting, growing category of fashion. We needed a partner who understood the industry and was excited about our category."
Republic provided a $1.25 million traditional factoring facility with credit protection and extended customer payment terms. Republic's funding will eliminate the nascent company's cashflow gap between paying suppliers and receiving delayed payments from major retailers. The company is confident it found a trusted and consistent partner to overcome supply chain challenges.
Republic Business Credit COO Matt Begley said: "We believe our factoring, asset-based lending and direct to consumer products partner well with growing businesses that need industry expertise and adaptable partners. We are excited to support growing brands and are passionate about the watch and accessory categories to supplement our apparel and textile factoring business."
Republic has proudly supported clients throughout this uncertain and unpredictable era in retail. Republic provides importers, distributors and manufacturers with the necessary support and guidance to adapt to the mix of opportunities and challenges that lie ahead.
"Since joining Republic during early 2020, we have expanded our capabilities and added clients at a lightning pace who want great client service, in addition to their working capital needs," said Tae Chung, SVP of Business Development.
Republic partners with banks, accountants, sponsors, lawyers and investment banks to collaboratively support entrepreneurs across the United States, to create value, by enabling them to focus on growing successful businesses.
About Republic Business Credit. Republic Business Credit is a national provider of working capital facilities to private equity and entrepreneurial-owned businesses. Republic provides asset-based lending, ledgered lines of credit, traditional factoring, direct to consumer loans, factoring and Fast AR Funding. Republic partners with its clients to provide up to $12 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress.
Nationally recognized as Winner of the 2015 Emerging Growth Company of the Year award from Association of Corporate Growth, Republic's expert and knowledgeable team boasts four "Top 40 Under 40" winners, two "Top Women in Secured Finance" and a "Top Women in Asset Based Lending" by the Secured Finance Network and ABF journals respectively. Republic is recognized by the Secured Finance Network as one of the largest independently owned finance companies in the United States of America.
Media Contact
Joanne Chesters, Republic Business Credit, 5042628624, [email protected]
SOURCE Republic Business Credit
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