Republic Business Credit Provides $1.75MM Factoring Facility to Apparel Importer

Republic Business Credit provided a $1.75 million non-recourse factoring facility with credit protection and extended customer payment terms eligibility to a West Coast-based apparel importer.

When the importer sought funding for its 2020 summer orders, it chose Republic Business Credit to finance its supplier payments. Republic approved a flexible, scalable and growth-orientated facility to supply retailers with summer apparel in anticipation of the reopening of stores. Republic provided credit protection on the company’s receivables and concentration limits for approved customers.

The COVID-19 pandemic has caused postponements in order shipment dates and Republic will support the client in the event the current orders are delayed or postponed.

The company is a distributor of knitted and woven fabric into the apparel manufacturing community. The company typically sells into U.S. apparel manufacturers. Republic’s funding will eliminate the cashflow gap from when the company’s suppliers need to be paid and when payment is made 120 days later for the goods.

“We believe our factoring and lending products will be even more necessary as states reopen in 2020,” Matt Begley, COO of Republic Business Credit, said. “We are excited to help all small businesses on the front supply lines of getting summer goods in stores and returning closer to normal lives.”

Republic Business Credit provides factoring and lending facilities up to $10 million and its credit and collection product is able to support both small and large companies.