Republic Business Credit provided a $1.25 million traditional factoring facility with credit protection and extended customer payment terms to a Los Angeles-based consumer packaged goods distributor that distributes watches and other accessories.
When the distributor sought funding to underpin its initial growth for spring orders, the company selected Republic Business Credit, which approved a scalable factoring facility to support the company’s expected growth, fulfill initial orders and provide a cushion for summer demand. Republic Business Credit fully approved the client’s limits for both standard and extended terms up to 120 days, which were necessary for the company to sell into stores during its initial phase of growth. Republic Business Credit’s funding will eliminate the company’s cash flow gap between paying suppliers and receiving delayed payments from retailers.
“We believe our factoring, asset-based lending and direct-to-consumer products partner well with growing businesses that need industry expertise and adaptable partners,” Matt Begley, COO of Republic Business Credit, said. “We are excited to support growing brands and are passionate about the watch and accessory categories to supplement our apparel and textile factoring business.”
“Since joining Republic during early 2020, we have expanded our capabilities and added clients at a lightning pace who want great client service in addition to their working capital needs,” Tae Chung, senior vice president of business development at Republic Business Credit, said.
