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Republic Provides $5.5MM Ledgered Line of Credit for Gulf Region-based Food Service Company

October 06, 2021, 07:00 AM
Filed Under: Food Services

Republic provided a $5 million ledgered line of credit facility with a $500,000 purchase order call facility to a gulf Rrgion based food service company.

Republic’s funding will enable the company to buy more bulk inventory, hire additional staff and increase the number of school districts they can support each school year. Republic structured the ledgered factoring facility to allow for rapid growth without any financial covenants or field exam requirements. The company expects a strong close to 2021 and plans to request an inventory and equipment term loan facility as they continue to build their company.

Republic’s President, Robert Meyers said, “We believe our factoring, ABL and inventory lending products are great supplements to the vision of our growing portfolio of food brands.” He further added, “we are excited to help enable our entrepreneurs to focus on adding revenue while knowing they have a supportive partner to weather any supply chain or growth issues they might encounter during the pandemic.”

Republic’s CEO, Stewart Chesters, added, “The food supply chain is critical to everyone’s well-being, we are excited to help so many food companies as they lead us into healthy food alternatives.”  Republic Business Credit provides factoring, asset-based lending and direct to consumer facilities up to $10,000,000 across the United States.    

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