Daily News: May 22, 2012

Republic Business Credit Appoints Seeley SVP, Sales

Republic Business Credit, LLC announced the appointment of John Seeley, San Francisco resident and career commercial finance professional, as SVP, Sales to lead its new business activities in San Francisco and the northern California marketplace.

Seeley, a senior vice president with more than two decades of experience in commercial finance, joined Republic Business Credit from Acrius Capital, where he found working capital solutions for small- to mid-sized businesses. Seeley’s background is entrepreneurial, having run a home remodeling business immediately after college and later creating and running a dot-com business prior to selling it. Seeley received a B.A. in business from James Madison University and also graduated from Georgetown University’s McDonough School of Business where he focused on finance and entrepreneurship.

“Republic has receivables finance and factoring operations serving clients nationwide and is recognized as one of the most client-focused businesses of its kind in the country,” said Stewart Chesters, chief operating officer. “John’s extensive knowledge and experience in commercial finance excites us as we look to extend our presence in San Francisco and northern California. California was the missing piece to our national coverage and having someone of John’s caliber on board is a great asset for us. He is already meeting with businesses there and regionally to demonstrate how speedier access to the liquidity that is due to them can fuel their growth.”

“The companies that can benefit from our services are those that sell their goods and services to credit-worthy entities,” Seeley said. “Our clients have to pay their employees today, meet immediate operating expenses and invest in growing their businesses but their own customers most often pay invoices in 30 to 45 days, sometimes longer. We can offer advances against accounts receivable to bridge these funding gaps so our clients can meet their obligations and continue to grow.”

Seeley will focus on a variety of industries in the California market, including technology, distribution, temporary staffing, manufacturing, energy, government contracting and consulting. Further, Republic will also serve clients doing business in many other areas that sell to other businesses on credit terms.

Republic provides working capital for rapidly growing, turnaround and startup companies that have annual sales up to $60 million and facility needs of $50,000 to $5 million by utilizing receivables purchase lines of credit and factoring facilities.