Republic Business Credit announced it provided a $2.5 million facility to a Houston-based food processor.
The business needed financing on a broad asset base to support its comprehensive growth plans. Republic worked with its existing established bankers to supplement their equipment based facilities with Republic’s accounts receivables and inventory lines and an on call purchase order facility.
“Many finance companies look to sell their preferred solution to the client, ignoring the established relationships that the business already has in place,” said Stewart Chesters, Republic Business Credit’s chief operating officer. “At Republic we are always happy to work with our clients, bankers and other capital providers to provide a broad working capital base for them to be able to sustainably grow their business and take advantage of the opportunities that arise. Our ability to act fast and provide flexible solutions has ensured that we remain a working capital funder of choice.”
Republic Business Credit provides asset-based facilities, including receivable purchase line of credit and factoring facilities, inventory, equipment and purchase order lines to provide working capital for rapidly growing, turnaround and start-up companies.