Daily News: April 15, 2013

Republic Business Credit Celebrates Strongest Quarter Yet

Republic Business Credit said it commenced its third year in operation and closed over $21 million of new client facilities in the first quarter of 2013, which was the company’s strongest quarterly performance to date.

Highlights from the news release included:

Republic said in January, it provided a $2.5 million working capital facility to a Houston, TX-based food processor that needed
financing on a broad asset base to support its comprehensive growth plans. Republic noted that it worked with its existing established bankers to supplement their equipment based facilities with an ABL facility.

The Republic asset-based facility combined a receivables purchase line of credit with an inventory line of credit and an on call purchase order facility, enabling the business to take advantage of commercially advantageous opportunities for large scale purchases. Republic worked cooperatively with the company’s bankers to ensure that the working capital facilities worked effectively, in conjunction with its existing equipment loan from the bank.