Republic Business Credit provided a $1 million factoring facility to a national beverage accessory manufacturer. Republic’s traditional factoring product and credit protection services will support the company’s retail store expansion while protecting the manufacturer from credit risk.
Republic refinanced the manufacturer’s smaller bank line of credit while creating additional availability, as its factoring facility will grow with the company’s sales. Additionally, the facility includes a built-in inventory component that can be accessed once the company achieves certain financial milestones.
“Our reputation for partnership and track records of success are our strongest assets,” Eric Dorner, senior vice president of Republic Business Credit, said. “The trust established through our industry experience paved the way for this new partnership. We are committed to fueling the next phase of this manufacturer’s growth.”
Robert Meyers, president of Republic, said, “Our solutions are designed to remove artificial financial barriers from growing companies. We continue to see strong performances across the food and beverage and consumer products sectors and are excited to see where the founders will take this brand.”
