A temporary staffing management team was searching for a factoring company for its latest entrepreneurial venture, seeking a trusted local financial partner that understood the temporary staffing industry. The company initially reached out to the Buckhead branch of Renasant Bank, which provides its treasury services.
Republic Business Credit, a wholly owned subsidiary of Renasant, provided a $750,000 factoring facility designed to be quickly scalable as the company takes on new contracts and help to fund all of its payroll needs.
“Republic was exactly the solution our client needed to accelerate its access to payroll funding so it can confidently build its business,” Fred Andrew, managing director of Renasant Bank, said.
“We have extensive expertise across the temporary staffing sector, including light industrial, IT, healthcare, administration and more industries that seek our streamlined onboarding and funding processes, which allow our clients to scale rapidly,” Robert Meyers, president of Republic, said. “We are proud to support so many temporary service companies across the country. It has always been one of our core strengths as a team.”
“Republic’s comprehensive experience in the staffing field allowed us to close this very quickly and efficiently,” Brian Resutek, senior vice president, Southeast regional manager at Republic, said. “I’m fortunate to work hand in hand with our strong team of professionals, from credit and underwriting to closing, who ensure a smooth and effective client onboarding process.”
