Republic Business Credit Provides $5MM Legered Line of Credit to Oil Field Service Distributor
Republic Business Credit provided a $5 million factoring facility to for a Midwest supplier of pipes, valves and oil transmission products and services.
Republic Business Credit provided a $5 million factoring facility to for a Midwest supplier of pipes, valves and oil transmission products and services.
Republic Business Credit extended a $6.5 million asset-based loan to a Gulf Cost-based, second-generation food manufacturing company that needed more support during seasonal growth periods.
According to the Secured Finance Network, since new California disclosure rules were implemented in December 2022, 40% of respondents were found to be “no longer lending” to prospective borrowers who fall within the regulations’ threshold of less than $500,000.
Republic Business Credit provided a distributor of women’s apparel with a $1.5 million traditional factoring facility with credit protection and extended customer payment terms.
Renasant Corporation and its wholly-owned subsidiary, Renasant Bank, acquired Republic Business Credit in an all-cash transaction. RBC is a commercial finance company with average earning assets in excess of $100 million.
Republic Business Credit provided a $4.5 million ledgered line of credit facility secured by accounts receivables, inventory and equipment to a Midwest-based manufacturer of outdoor products.
Republic Business Credit provided a $5 million direct-to-consumer asset-based loan to a national confectionary manufacturer that goes to market through an omnichannel approach.
Republic Business Credit provided a $3.5 million asset-based loan facility secured by accounts receivables, inventory and equipment that refinanced the oil field services company’s incumbent bank lender while providing significantly more borrowing base liquidity at closing.
Through its Fast AR Funding platform, Republic Business Credit provided a $500,000 selective factoring facility in less than a week to help a multinational staffing and consulting company meet demand in the United States.
Brian Daray joined Republic Business Credit as senior vice president and underwriting manager at its headquarters in New Orleans. Daray will lead the company’s underwriting team across the United States.