Republic Business Credit provided a $9 million asset-based lending facility to a hardware products manufacturer. The facility will refinance an existing working capital loan, providing the company with additional borrowing capacity and scalable financing to support day-to-day operations and long-term growth objectives.
The company was referred to Republic Business Credit by the portfolio manager of its incumbent bank lender, who recognized Republic’s experience working with companies with strong balance sheets in transitional situations.
“One of Republic’s core tenets is to serve companies that are facing situations beyond their control and need a stabilizing force,” Jason Carmona, executive vice president, Western regional manager at Republic Business Credit, said. “When a company finds itself in a lender transition, it can be a stressful time, so our goal was to give their team the confidence to continue executing while structuring a facility that met their needs.”
With the new lending facility in place, the company is positioned to maintain operational momentum, strengthen vendor relationships and pursue continued growth across its retail network.
“One of the most important things we can do for a business is show up when they need a partner most, providing insight as well as funding,” Robert Meyers, CEO of Republic Business Credit, said. “We are proud to provide a clear path forward for our client with a stronger and better-aligned lending arrangement that empowers its executives to consistently deliver for their customers.”
