NEW ORLEANS – Republic Business Credit has expanded its support of the temporary staffing industry nationwide with the addition of a new client, a Northeast-based IT temporary staffing firm. The founders brought decades of experience to the launch of the firm, their first entrepreneurial journey.
Once it began working with Republic, the company immediately began onboarding new clients during the underwriting process with confidence that it had the right partner to support its payroll funding needs.
The company was referred to Republic by a former client, marking a strong endorsement of how Republic supports growing companies in the temporary staffing industry. The company selected Republic due to its industry expertise, flexible financing and unwavering commitment to a successful partnership. “It felt like we had a true partner who understood our goals and had the tools to help us achieve them,” said the firm’s founder.
“Knowing the temporary staffing industry as well as we do, we were able to craft a proposal that made sense for the company’s operational needs,” said William Kemp, SVP Business Development at Republic. “We took the financial burden off of the executives, allowing them to focus on growing their business.”
Republic structured a $500,000 factoring facility with a 90% advance rate on its accounts receivables. This facility will provide necessary weekly payroll funding while allowing the firm the flexibility to offer extended payment terms to its most reliable customers.
“Empowering companies to achieve their growth potential is core to our mission,” stated Robert Meyers, President of Republic. “We look forward to a long and successful journey together.”
