When a Los Angeles apparel manufacturing and import company sought funding for its 2020 fall and winter orders, it chose Republic Business Credit to fuel its growth.
Republic approved a scalable traditional facility to support expected growth in anticipation of the orders the company has received for additional reopening of retail stores. Republic fully approved the customer limits necessary to enable the company to fulfill large purchase orders in the midst of COVID-19.
“We are excited about showcasing our growing fashion line and wanted a factoring partner that could grow with our brand,” the apparel company CEO said.
As the pandemic has caused postponements, cancellations and shipment uncertainty throughout the retail supply chains, Republic will support the client throughout this uncertain and unpredictable period in the history of retail. Republic Business Credit provides apparel importers, distributors and manufacturers with the necessary support and guidance to adapt during the staggered reopening.
The company is a distributor of women’s comfy chic dresses, pant suits and skirts. The brand is focused primarily on manufacturing in the U.S. and sources nearly all of its material domestically. The brand is well positioned for the post COVID-19 store re-openings as they had no debt entering the Q2/20. The brand sought a partnership with an entrepreneurial finance company with deep industry experience and the ability to scale up its facility.
Republic provided a $1.5 million traditional factoring facility with credit protection and extended customer payment terms. Republic’s funding will eliminate their cashflow gap between paying suppliers and receiving payments from retailers. The company is unsure what the holiday season will likely bring, but it is confident they have a partner during all of the “return to work” stages.
“We believe our factoring and asset-based lending products will partner well with businesses as states reopen in 2020.” Matt Begley, Republic’s COO, said. “We are excited to help all brands on the front lines of supplying store reopening’s and returning closer to our normal lives.”
