Republic Provides Facility to SE Energy Sector Company
Republic Business Credit announced it provided a $2.5 million working capital facility to a growing Southeastern energy sector technical and engineering services business.
The business was looking at many opportunities to expand its services and was being restricted by existing banking facilities. Republic provided a receivables line of credit facility with advance rates and a structure that ensures the business has money for growth and can pursue and fulfill new contracts.
“Currently there are many energy service companies that have excellent opportunities for growth but lack the working capital support to take full advantage of opportunities available,” said Allen E. Frederic, Jr., Republic Business Credit’s chief executive officer.