Republic Business Credit provided a $1 million receivables purchase line of credit to a minority-owned entrepreneurial staffing firm. The company will use the funds to secure additional customer contracts in 2019.
When a consultant sought to free the Midwestern-based client from an expensive financing solution, they tasked Republic Business Credit to provide the necessary payroll funding.
The client’s high growth rate required a quickly scalable facility to maximize their borrowing ability in order to fulfill weekly payroll obligations and continued personnel investments.
Republic structured a larger, more affordable facility while simultaneously partnering with a full back office solutions provider to support the client’s future growth plans, as well as eliminate any short term cash-flow fears.
Republic additionally has deep ties into the staffing industry and can provide more than just funding-oriented solutions when necessary.
“Rapidly growing companies require a comprehensive solution to fuel their immediate growth needs,” said Robert Meyers, chief commercial officer of Republic. “Republic is proud to provide a client focused solution that partnered with an industry leading back-office provider that will provide them with the tools for unlimited growth.”
