Republic Business Credit provided a national textile wholesaler with a $2.75 million factoring facility to fuel the company’s West Coast expansion and market penetration into new apparel manufacturers.
The textile wholesaler has experienced strong demand and rapid growth. While navigating the cyclical demands of the apparel industry amid a surge in global orders, the company sought a financial partner with a deep understanding of the apparel supply chain and the working capital challenges unique to the industry. The company chose Republic for its broad expertise in apparel and textiles.
“The apparel sector operates on highly specialized production and payment cycles that require flexible financing solutions,” Tae Chung, senior vice president, business development officer at Republic Business Credit, said. “Because we know this industry inside and out, we can build the genuine connections necessary to drive our clients’ success and serve as a strategic growth partner. We’re excited to help this partner capitalize on opportunities and scale to the next level.”
Robert Meyers, CEO of Republic Business Credit, added, “Empowering and partnering with apparel companies is in our DNA and central to our growth strategy. As we build on our 15-year legacy, our focus remains on staying true to our roots and delivering as a trusted partner. When they grow, we grow.”
