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.
We surpassed our spring orders by 150% and
needed a partner who truly understood our industry.
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, ea@respublicagroup.com, republicbc.com
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SOURCE Republic Business Credit