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.
Republic Business Credit provided a $1.25 million traditional factoring facility with credit protection and extended customer payment terms to a Los Angeles-based consumer packaged goods distributor that distributes watches and other accessories.
First Business Bank funded a $4.5 million accounts receivable factoring facility by its accounts receivable financing group. The new client is a transportation company facing growth challenges. This facility will support the client’s continued growth.
Utah recently passed the Commercial Financing Registration and Disclosure Act, which requires companies that provide commercial financing products to register with the Utah Department of Financial Institutions and make certain disclosures.
Enservco retired its $13.8 million senior revolving credit facility with East West Bank via a refinancing transaction that includes a $10 million receivables factoring line from LSQ, a $6.22 million master equipment lease from Utica Leaseco and the issue of a $1.2 million convertible subordinated note to Cross River Partners.