Republic Business Credit Funds $4.25 Million Asset Based Loan for Food and Beverage Manufacturer
Midwest-based company refinanced its incumbent lender to maintain growth
CHICAGO – When a renowned beverage manufacturing company found itself with insufficient working capital from its lender, it partnered with Republic Business Credit to expand its access to flexible working capital.
Republic was introduced by a middle market Midwest consulting firm that needed a food and beverage industry expert that was able to structure a more growth-oriented working capital facility. The company has already exceeded budget by over 30% during its first quarter since being supported with a better fitted asset based loan.
The company manufactures several different beverages across the carbonated and non-carbonated category. The company maintains exclusive licensing deals with some of the biggest brands around the country, delivering a private label and branded manufacturing experience for its customers. The company is on pace to achieve more than $40 million in revenue in 2025, only its fifth year in business.
The company was able to combine their strategic growth plan with a scalable asset based loan and the right team of advisors to exceed their budgets so far in 2024. Its founder added, “Republic understands our industry and our future better than we could have hoped for, and we are excited to work with Republic for years to come.”
Republic provided a $4.25 million asset based loan that allowed the company to not only hit, but exceed its projections. Republic was able to fund the deal by combining inventory availability along with a 90% advance rate on their accounts receivables. Additionally, Republic provided an in-transit advance on inventory in transit throughout the United States to help accelerate their cashflows.
“This company is primed for success. They have a unique product that is very strong in their market,” stated William Kemp, SVP, business development officer. “We found a fiscally smart way to support the company’s growth and we are proud of our partnership.”
The enterprise was founded in the Midwest and manufactures and distributes licensed consumer packaged goods both domestically and internationally. Republic is a proud supporter of food and beverage manufacturers across the country.
“This deal is the perfect example of what our company sets out to do,” said Robert Meyers, president of Republic. “We saw a dynamic set of founders, poised for success with the right partnership that could keep up with their growth.” Meyers added, “Our goal, and that of our clients, is profitable growth, and we are excited about their early successes and expectations to exceed 50% year-over-year revenue growth by the end of 2024!”
About Republic Business Credit
Republic Business Credit is a nationally recognized commercial finance company supporting the working capital requirements of companies nationwide, including private equity and entrepreneurial businesses. Republic provides asset-based lending, e-commerce, ledgered lines of credit, factoring and Fast AR Funding. Republic partners with its clients to provide up to $15 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress. Republic is recognized by the Secured Finance Network as one of the largest finance companies in the United States of America. Republic is proud to be headquartered in New Orleans with additional offices in Chicago, Los Angeles and Houston. Republic is a wholly owned subsidiary of Renasant Bank.
