Daily News: August 26, 2014

Republic Supports Staffing Firm with Working Capital Facility

Republic Business Credit announced it has provided a $3.5 million accounts receivable facility to a fast growing Midwest based temporary staffing business specializing in the automotive sector.

The business was previously constrained by limitations in its working capital facilities. Republic provided an accounts receivable line of credit with a structure that will support its growth goals.

“This has been a good year for us in providing facilities for growing businesses that want to take advantage of opportunities they have,” said Stewart Chesters, Republic Business Credit’s chief operating officer. “At Republic we work with many temporary staffing companies and continue to see growth in automotive sector clients. Our ability to act quickly and to provide flexible facilities tied to the value of receivables ensure that we remain a working capital funder of choice.”