Republic partners with minority- and woman-owned beverage company to provide growth capital
HOUSTON, Aug. 24, 2023 /PRNewswire-PRWeb/ -- When a Texas-based beverage company was searching for capital to expand its operations, the company selected Republic Business Credit as its partner. Republic provided a credit facility, totaling $2.5 million, which will supply the energy drink brand with the resources for future growth.
This Texas-based energy beverage and lifestyle brand was founded by a family of athletes with the goal to provide a health-forward energy product to consumers. It is one of the first Black-owned energy drink companies on the market.
The sports drink is created with a blend of cordyceps mushrooms and natural flavors, which combine to help combat the jittery feelings associated with energy drinks. The innovative formula is vegan and non-GMO, while delivering electrolytes, essential vitamins and BCAAs.
The company offers a variety of drink flavors, including Tropical Berry, Candy, Blueberry Lemonade, Peach Pineapple, Watermelon Fruit Punch, Gummy Bear, Mango Passion Fruit, and Acai Mixed Berry.
To help accelerate the company's ability to fulfill the backlog of purchase orders from regional sports and nutrition retailers across the West Coast, Republic provided a $2.5 million Ledgered Line of Credit and a $250,000 call facility.
Republic President, Robert Meyers said, "We are very excited to partner with a company that is innovative and focused on growth. We are grateful to play a role in the story of this company and look forward to supporting its goals."
Leigh Guglielmo, SVP, Business Development, New Orleans, at Republic, was also confident about the prospects of the deal. "We are thrilled to partner with a diverse company that's already shown so much promise," said Guglielmo. "We believe in the vision of this company and are excited to provide this line of credit to bolster its growth."
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, ledgered lines of credit, traditional factoring, 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 and Houston. Republic is a wholly owned subsidiary of Renasant Bank.
Media Contact
Emma Amorose, Respublica Group, 412.807.9236, [email protected], republicbc.com
SOURCE Republic Business Credit, LLC
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