Republic Business Credit Provides $500K Selective Factoring Facility to IT Staffing Company

Through its Fast AR Funding platform, Republic Business Credit provided a $500,000 selective factoring facility in less than a week to help a multinational IT staffing and consulting company meet demand in the United States. The facility allowed the client, with a newly established subsidiary in the Northeast, to place new temporary hires the week after the facility closwed.

The staffing and consulting company provides temporary placement of qualified cloud and data specialists to Fortune 500 companies. The company prides itself on finding highly skilled, dependable and best-in-class temporary staff and project-based consultants. The ability to provide shorter-term and longer-term placement options provides flexibility for their clients.

And with traditional working routines uprooted over the past few years, the demand for skilled workers with expertise in remote and hybrid systems-based work is on the rise. The company needed Republic’s support and a quick turnaround.

“Selective Factoring is a dynamic and quick solution for entrepreneurs in the temporary IT staffing space,” William Kemp, vice president of business development at Republic, said. “Our flexible approach allows businesses to focus on growth while not worrying about their working capital.”

“Fast AR is a fantastic way to support startup and early-stage entrepreneurs, and we have the capability to grow with them into larger factoring facilities, ledgered lines of credit and asset-based lending products as they mature,” Robert Meyers, president of Republic, said.