Republic Provides a $2.5m Traditional Factoring Facility for a Los Angeles based Apparel Importer
Republic Business Credit supports a California based apparel manufacturer with a traditional factoring facility to prepare for the holiday season
LOS ANGELES, Nov. 18, 2020 /PRNewswire-PRWeb/ -- When a Los Angeles apparel manufacturing and import company sought funding for their 2020 Holiday season orders, they chose Republic Business Credit to accelerate their growth. Republic approved a traditional factoring facility to fund their confirmed orders for the Holiday season, including an additional shipment of Personal Protective Equipment ("PPE") in the late summer. Republic fully approved the customer limits necessary to enable the company to fulfil the large purchase orders and the add online for PPE products in the midst of Covid-19. The Apparel company CEO said, "We are excited about showcasing our winter fashion line and excited to have a factoring partner that supported our expansion into gloves."
The company is a distributor of footwear for men and women that recently expanded into fashionable gloves and some disposable gloves for PPE. The brand is focused primarily on manufacturing in the USA for its branded products, and then sources its PPE from overseas. The company believes their products will provide both warmth and some peace of mind from the pandemic this winter. While the PPE gloves are being sold into major home goods stores, their branded lines will be available most major retailers. The company is positioning its brand to continue to support PPE during the pandemic while focusing on investing and expanding their brand for the post-Covid-19 world. The company sought a partnership with an entrepreneurial finance company with deep fashion brand and apparel industry experience.
Republic Business Credit provided a $2.5m traditional factoring facility with credit protection, with a $750,000 inventory sub-limit to help support their goods in transit into Los Angeles. Republic's funding will empower the entrepreneurs to grow their branded products and supplement their revenue with PPE gloves. The company is unsure what Spring 2021 will likely bring, but it is confident they have a partner during all of the "return to normal" stages. Republic's COO, Matt Begley said, "We believe our factoring and asset-based lending products partner very well with growing brands during this uncertain time." He further added, "We are thrilled to support great brands across the clothing, footwear and accessory categories."
Republic Business Credit provides factoring, asset-based lending and direct to consumer facilities up to $10,000,000 across the United States. 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.
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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.
Media Contact
Joanne Chesters, Republic Business Credit, 5042628600, [email protected]
SOURCE Republic Business Credit
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