Republic Business Credit Provides $6.5MM Factoring Facility to Women’s Apparel Company
Republic Business Credit provided a $6.5 million traditional factoring facility for a designer, manufacturer and wholesaler of women’s clothes, helping the company meet the shipping needs of its spring and summer collections.
Headquartered in Los Angeles, the company targets women consumers with a line of clothing sold through several different labels at major retailers, including Nordstrom, Stitch Fix, Bealls, Dillard’s and Burlington. The company specializes in soft-knit tops, dresses, cardigans, blouses, pants and skirts. The client needed a solution within a few weeks as the contract with its incumbent factoring firm was expiring. The company learned about Republic Business Credit through a referral.
“Having known this company since its founding more than 20 years ago, it was exciting they reached out to us. Our California team worked quickly to put together the deal for a $6.5 million traditional factoring facility to help build ahead of their busy shipping seasons,” Tae Chung, senior vice president of Republic Business Credit, said. “We continue to demonstrate our knowledge and experience in the apparel space, which is rewarding.”
“As we looked to ship our seasonal collections, we wanted a stable and credible partner,” the company founder said. “Republic was there to help in the moment and will be with us in the future as we grow with our brands.”
Jason Carmona, executive vice president of Republic Business Credit, helped onboard the client.
“With a dedicated Los Angeles team, Republic is proud to support the apparel community and plans to add at least 30 more brands in 2023,” Carmona said. “Being referred into this transaction from several industry insiders is a testament to our support from the community and our momentum throughout the finance and apparel communities.”
“We are committed to supporting brands across various channels of business, and our complementary product suite of asset-based lending, traditional factoring and e-commerce supports brands throughout their unique growth cycles,” Robert Meyers, president of Republic Business Credit, said.