Republic Business Credit provided a $5 million facility to a consumer goods manufacturing company based on the West Coast. The client provides innovative products in the home automation category across a variety of distribution channels.
The company sought a growth capital partner that understood the retail landscape and would be able to provide ample dry powder for future facility increases.
When an international factoring company was unable to keep up with the company’s growth projections, Republic replaced their higher cost facility with a ledgered receivables line of credit. The extended terms allowed the client to obtain better gross profit margins without having to worry about funding needs.
“It is exciting to support manufacturing companies as they continue to increase their essential contribution to our country’s economy,” said Robert Meyers, president of Republic. “As a commercial finance company, we are passionate about supporting growth focused companies that provide new choices to consumer. We have strong relationships with industry experts in the retail sector, and they trust us to provide the right solution for their clients.”
