Facing traditional industry challenges associated with cash flow and rapid growth, a prominent staffing firm partnered with Republic Business Credit to support its national retail expansion.
Republic partnered with the entrepreneur-led staffing agency to provide a $3 million factoring facility, which included an $800,000 unbilled advance to bridge the mid-month gap between its employees’ weekly payroll and customers’ monthly invoice cycle.
Republic’s tailored solution provided up to 90% advance on accounts receivable combined with an advance of 70% on unbilled receivables that were earned but not yet invoiceable. Republic’s robust support for unbilled receivables directly addressed all the company’s payroll needs amid its rapid growth.
This flexible structure allowed the client to significantly reduce its existing debt burden while immediately onboarding three new Fortune 100 clients. This strategic partnership highlights Republic’s expertise in providing flexible, high-impact financing that fuels expansion for its partners across the dynamic staffing industry.
Eric Dorner, VP, Business Development at Republic, shared, “This isn’t just a factoring solution, it’s a partnership that has enabled our client to nearly double its revenue and amplify its reach across the national IT and light industrial temporary staffing space.”
As a direct result of Republic’s support, the company secured its financial freedom and is well-positioned to earn a projected $26,000,000 in 2025, solidifying its position as a competitive, trusted player in the industry.
“We understand the unique demands of entrepreneurial industries like IT and light industrial staffing, where talent acquisition and timely payroll are paramount for future success,” said Robert Meyers, President of Republic. “Our ability to structure a facility that included a substantial unbilled accounts receivable component, alongside a high advance rate, was key. Our goal is to precise financial tools that allow innovative companies to seize opportunities and scale without cash flow constraints.”
