LOS ANGELES, June 4, 2020 /PRNewswire-PRWeb/ -- Republic Business Credit is proud to announce the hiring of Tae Chung as Senior Vice President of Business Development in its Los Angeles office. Tae will significantly increase our presence in the California traditional factoring market, further building upon the acquisition of Continental Business Credit in 2019. In addition to non-recourse factoring, Republic provides asset-based lending, direct to consumer financing and recourse factoring for companies throughout the consumer-packaged goods industry. Tae will lead Republic's efforts in the apparel, accessory, electronic, textile, furniture and importer segments.
Tae has built his career in the California apparel industry, entering his 20th year of providing factoring and asset-based lending solutions. He has a deep industry knowledge of the California factoring and lending markets. Tae is a member of the California chapter of Secured Finance Network, The Professional Club and various trade show associations. Tae will be located out of our new Los Angeles office, headed by its Chief Operating Officer, Matthew Begley, and EVP – Western Regional Manager, Jason Carmona.
Republic is committed to assisting apparel companies through this Pandemic, supporting their reopening plans and the likely challenging market that will follow. Republic understands the negative impacts across most retail, e-commerce and wholesale manufacturers and distributors, and believes it is well positioned to help. While Republic provides many solutions for clients, in the short term it believes its factoring solutions and inventory funding options provide a unique solution to help apparel companies continue to ship while things begin to stabilize. Republic provides factoring and lending facilities up to $10,000,000, therefore its credit and collection product is able to support both small and large companies. Republic's President, Robert Meyers said, "We continue to heavily invest into our non-recourse and asset-based lending offerings in the California market. We believe we are well positioned to pick up market share during this upcoming recession."
Republic believes in light of continued disruption in the apparel industry, that its commitment to providing factoring solutions will aid business owners in need of creative and flexible non-bank approaches to solving their cashflow needs. Republic's COO, Matt Begley added, "We were excited when we learned that Tae was available in the market, Tae has been on our list of top performers in the region for many years." Adding to Matt's comments, Republic's President, Robert added, "Some of our best opportunities often come at inopportune times, but it just shows our commitment to the business we are building together, and it all starts with great people."
Republic is dedicated to helping entrepreneurs throughout the country, with its focus on building out regional offices to better support the local entrepreneurs. Republic's EVP, Western Regional Manager, Jason Carmona added, "I have known Tae a long time, I am really thrilled he has joined our California based team. Tae has a strong track record that supports our commitment to traditional factoring and supporting the apparel and consumer packaged goods space."
Republic Business Credit 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.
Republic Business Credit provides fast and flexible working capital solutions to help rapidly growing businesses, start-ups, and companies in turnaround or recoverable distressed situations. Winner of the Emerging Growth Company of the Year award from the Louisiana Chapter of the ACG, and the FactoringClub's Best Factoring Company Award for 2018, the Republic Business Credit team has the expertise necessary to meet the nuanced financial needs of companies across a wide variety of industries. It provides asset-based loans, ledgered lines of credit, non-recourse factoring, factoring and direct to consumer loans including e-commerce working capital. Since its founding in 2011, Republic Business Credit has provided over $10 billion in working capital.
SOURCE Republic Business Credit
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