Republic Business Credit expanded access to flexible working capital for a food and beverage manufacturing company that found itself with insufficient support from its lender.
“Republic understands our industry and our future better than we could have hoped for, and we are excited to work with Republic for years to come,” the company’s founder said.
Republic provided a $4.25 million asset based loan that allowed the company to not only hit but exceed its projections. Republic funded the deal by combining inventory availability along with a 90% advance rate on accounts receivables. Additionally, Republic provided an in-transit advance on inventory in transit throughout the United States to help accelerate cashflows.
“This company is primed for success. They have a unique product that is very strong in their market,” William Kemp, senior vice president, business development officer of Republic, said. “We found a fiscally smart way to support the company’s growth and we are proud of our partnership.”
“This deal is the perfect example of what our company sets out to do,” Robert Meyers, president of Republic, said. “We saw a dynamic set of founders, poised for success with the right partnership that could keep up with their growth. Our goal, and that of our clients, is profitable growth, and we are excited about their early successes and expectations to exceed 50% year-over-year revenue growth by the end of 2024!”
