Republic Business Credit hired Tae Chung as senior vice president of business development in its Los Angeles office. Chung will increase Republic Business Credit’s presence in the California traditional factoring market, further building upon the acquisition of Continental Business Credit in 2019. In addition to non-recourse factoring, Republic provides asset-based lending, direct to consumer financing and recourse factoring for companies throughout the consumer-packaged goods industry. Chung will lead Republic’s efforts in the apparel, accessory, electronic, textile, furniture and importer segments.
“We were excited when we learned that Tae was available in the market. Tae has been on our list of top performers in the region for many years,” Matt Begley, chief operating officer of Republic Business Credit, said.
“Some of our best opportunities often come at inopportune times, but it just shows our commitment to the business we are building together, and it all starts with great people,” Robert Meyers, president of Republic Business Credit, said.
Chung built his career in the California apparel industry and is entering his 20th year of providing factoring and asset-based lending solutions. Chung is a member of the California chapter of Secured Finance Network, The Professional Club and various trade show associations. Chung will be located in Republic Business Credit’s Los Angeles office, headed by Begley and Jason Carmona, EVP – western regional manager for Republic Business Credit..
“I have known Tae a long time. I am really thrilled he has joined our California based team,” Carmona said. “Tae has a strong track record that supports our commitment to traditional factoring and supporting the apparel and consumer packaged goods space.”
Republic Business Credit provides factoring and lending facilities up to $10 million and its credit and collection product is able to support both small and large companies.
“We continue to heavily invest into our non-recourse and asset-based lending offerings in the California market,” Meyers said. “We believe we are well positioned to pick up market share during this upcoming recession.”
