Daily News: May 20, 2013

Republic Provides $7.5MM Facility for GA Pharma Distributor

Republic Business Credit announced it provided a $7.5 million receivables and inventory line of credit facility to a Georgia-based pharmaceuticals distribution business.

The business has grown in recent years and desired to continue its expansion. As a recently established business it did not have the track record to obtain a traditional bank line of credit. Republic was able to not only to provide an extensive receivables facility but also an inventory line of credit to support working capital needs. Republic’s lines of credit are collateral based and increase as a business expands allowing it to plan with certainty with respect to their growth plans.

“We see the economy positively transitioning in many sectors and businesses are looking closely at their working capital facilities to see how they will support their growth,” said Allen E. Frederic, Jr., Republic Business Credit’s chief executive officer. “At Republic we specialize in providing working capital facilities to growing businesses. With our ability to combine receivables, inventory and equipment lines into a single facility we can comprehensively meet businesses’ working capital needs. Our ability to act fast and provide flexible solutions ensures we remain a working capital funder of choice.”