Daily News: October 13, 2016

Republic Business Credit Provides $4.5MM Receivables Facility

Republic Business Credit provided a capital sponsor in Texas with a $4.5 million receivables purchase credit line to support a leveraged buyout of a 41-year old publication.

The funds also went toward working capital. Due to the constraints of the prior lender, the capital sponsor needed additional liquidity to implement its restructuring plan to realize the value of its acquisition.

“Our team responded with the necessary agility, adaptability and certainty to provide the correct solution for the capital sponsor,” said Robert Meyers, Republic’s chief commercial officer. “Our aspiration is to support the growth plans of strong management teams while understanding the unique and non-traditional working capital needs that capital sponsors require.”

Republic Business Credit provides working capital solutions to help rapidly growing businesses, start-ups and companies in turnaround or recoverable distressed situations that need facilities of up to $10 million.