Republic Business Credit provided a technology enabled temporary staffing company with a $3 million receivables purchase line of credit and a $750,000 unbilled receivables line of credit.
A California-based investment bank needed more than a factoring solution for the Ohio-based client and tasked Republic Business Credit with paying off the commercial bank and supporting future payroll funding needs. Republic structured an expandable receivables funding facility along with an unbilled receivables line of credit to meet the company’s timing needs between payroll and invoicing.
The client’s growth forecast required a scalable facility to assist with their weekly payroll obligations and continued investments in tech applications. Republic used its deep experience in the staffing industry to create a facility that eliminated any short term cash-flow shortfalls and enable the company to continue onboarding new clients at a fervent pace.
“Rapidly growing companies require an all-encompassing solution to support their growth needs,” said Robert Meyers, Republic president. “Republic is proud to partner with temporary staffing clients on the cutting edge of technology and customer service to provide them the toolbox for unlimited growth potential.”