Daily News: January 31, 2013

Republic Business Credit Celebrates Anniversary, Strong 2012


While the rest of the city prepares to celebrate the Super Bowl, New Orleans-based Republic Business Credit is celebrating the second anniversary of its foundation.

With over $20 million of new client facilities closed in the final quarter of 2012, Republic Business Credit is also marking its anniversary with the strongest quarterly performance to date.

“We are excited to have continued with our strong performance of 2012 and reached our second anniversary continuing to be a working capital financing partner of choice for so many small to mid-sized companies,” said Allen E. Frederic, Republic Business Credit’s chief executive officer. “We have worked with many growing businesses in the oil and energy, distribution and manufacturing sectors looking to use our asset-based and receivables purchase lines of credit and factoring facilities to support their ongoing growth. Our ability to act fast and provide flexible solutions to our clients and our banking and consulting partners has ensured that we remain a working capital funder of choice.”

Republic’s strategy is to deploy asset-based facilities, receivables purchase lines of credit and factoring facilities to provide working capital for rapidly growing, turnaround and start-up companies that have annual sales up to $60 million and facility needs of $100,000 to $5 million. Republic targets a variety of industries, including energy, oil and gas service companies, apparel, manufacturing, temporary staffing, distribution, transportation, food distribution, safety and security, government contracting, marine, printing, janitorial and others.

Republic Business Credit was formed early in 2010 by industry veterans Frederic and Stewart Chesters.