Republic Business Credit Provides $1.5MM Factoring Facility to Apparel Importer

Republic Business Credit provided a $1.5 million traditional factoring facility with credit protection and extended customer payment terms to a Los Angeles-based apparel manufacturing and import company.

When the company sought funding for its fall and winter orders, it chose Republic to fuel its growth. Republic approved a scalable traditional factoring facility to support the company’s expected growth in anticipation of the orders it had received for the 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 the COVID-19 pandemic. Republic’s funding will also eliminate the company’s cashflow gap between paying suppliers and receiving payments from retailers.

The company, which is focused primarily on manufacturing in the United States and sources nearly all of its material domestically, had no debt entering Q2/21. 

“We believe our factoring and asset-based lending products will partner well with businesses as the economy gets back to a growth track,” Matt Begley, chief operating officer at Republic Business Credit, said. “We are excited to help all brands on the front lines of the fourth quarter and future growth.”