Loan provides opportunities for growth and credit insurance
LOS ANGELES, July 16, 2024 /PRNewswire-PRWeb/ -- Based on a referral from a well-known California CPA firm, a rapidly expanding apparel manufacturer has chosen Republic Business Credit as its preferred factoring partner. Facing imminent deadlines for spring shipments, the LA-based clothing manufacturer sought a dynamic financing solution capable of scaling with its accelerated growth.
Specializing in full-package garments for major national retailers, the apparel manufacturer's executive team boasts extensive experience in the apparel and textile sectors, positioning the company as a rising leader in women's fashion, encompassing tops, bottoms and dresses. Reflecting on their recent success, the company's founder emphasized, "We surpassed our spring orders by 150% and needed a partner who truly understood our industry."
Republic swiftly responded with a $3,000,000 factoring facility, which was promptly increased to $4,000,000 within the first month as demand surpassed initial expectations. Republic's approach included the full approval of most customers and strategic funding support for non-approved accounts, ensuring seamless cash flow management for the manufacturer.
Republic Senior Vice President of Business Development in Los Angeles, Tae Chung, highlighted Republic's tailored solutions: "Republic's expertise in women's apparel enabled us to craft dynamic options that perfectly aligned with the client's needs. Once our strategy was set, we moved swiftly to finalize the agreement, and we are already enhancing our support for their future growth."
Republic specializes in providing factoring, asset based lending and e-commerce solutions to apparel and textile manufacturers nationwide. Republic Chief Operating Officer, Matthew Begley, expressed optimism about Republic's strong performance: "We've surpassed our 2024 sales targets ahead of schedule, marking a pivotal year of growth for Republic Business Credit. We look forward to forging new partnerships with companies experiencing similar growth trajectories."
For more information on Republic's financing solutions tailored for the apparel and textile industries, please visit Republic Business Credit.
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 and Houston. Republic is a wholly owned subsidiary of Renasant Bank.
Media Contact
Emma Amorose, Republic Business Credit, 4128079236, [email protected], republicbc.com
SOURCE Republic Business Credit
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