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Republic Provides $3.75MM Line of Credit for a Plastics Manufacturing Company

November 19, 2020, 07:45 AM
Filed Under: Manufacturing

Republic Business Credit refinanced a Midwestern automotive and industrial supplier to facilitate future acquisitions. Republic Business Credit provided a $3,750,000 ledgered line of credit facility secured by accounts receivables and inventory that injected significant acquisition and growth working capital into its war chest.

The company is a plastic parts manufacturing company that services large and medium sized companies across the automotive, appliance, energy and industrial industries throughout the US. The company specializes in custom plastic manufacturing, typically in the long run basis, as you would see in the automotive sector. Additionally, they have recently undertaken a few short manufacturing runs in the Personal Protective Equipment (“PPE”) supply sector. The company needed to refinance its existing bank line of credit to support their growth and potential acquisition plans.

Republic’s President, Robert Meyers, said, “We are well positioned to support manufacturing companies that are looking to leverage their balance sheet for growth,” he further added about the company, “Our team worked with the Company to structure a growth orientated facility that provided sufficient liquidity to enable the management team to focus on the future.” Republic will either increase the line of credit or provide an additional add-on facility to help with the upcoming acquisition strategy.

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