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Republic Provides $3.5MM Working Capital Facility to Midwestern Staffing Company

August 26, 2014, 07:34 AM
Filed Under: Staffing Services

Republic Business Credit announced today that it has provided a $3.5 million accounts receivable facility to a fast growing Midwest based temporary staffing business specializing in the automotive sector. The business was previously constrained by limitations in its working capital facilities. Republic Business Credit provided an accounts receivable line of credit with a structure that will support its growth goals.

“This has been a good year for us in providing facilities for growing businesses that want to take advantage of opportunities they have,” said Stewart Chesters, Republic Business Credit’s chief operating officer. “At Republic we work with many temporary staffing companies and continue to see growth in automotive sector clients. Our ability to act quickly and to provide flexible facilities tied to the value of receivables ensure that we remain a working capital funder of choice.”

Republic Business Credit provides asset-based facilities, including ABL, receivables purchase lines of credit and factoring facilities, inventory, equipment and purchase order lines to provide working capital for rapidly growing, turnaround and start-up companies. Facilities can range from $100,000 to $10 million. Republic Business Credit is targeting a variety of industries, including temporary staffing, energy, oil and gas service companies, apparel, manufacturing, automotive, distribution, transportation, food distribution, safety and security, government contracting, marine, printing, janitorial and others.

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