Republic Provides $750K Non-Recourse Facility to Apparel Manufacturer

Republic Business Credit partnered with an industry broker to factor an apparel manufacturing company to support their growth and supply chain challenges. The apparel company provides made-in-America private label clothing through its wholesale strategy, while reserving its own brand for direct to consumer offerings.

Republic provided a $750,000 non-recourse factoring facility for the larger wholesale accounts, as well as some collection-only services for some of the boutique sales and house accounts. This initial funding enabled the manufacturer to deliver orders during the first quarter and buy additional raw materials for upcoming spring and summer seasons.

Republic expects to add an inventory loan in the coming months to support both the wholesale and direct to consumer sales growth. The manufacturer is on pace to quadruple its revenue compared to the previous year. 

“Apparel and consumer goods manufacturers are experiencing the greatest amount of negative press of almost any industry at this moment, from tariffs to trade deals to coronavirus concerns,” says Robert Meyers, president of Republic.

Matthew Begley, COO of Republic adds on, “We are proud to support the manufacturing community of Los Angeles, having supported all of its cycles for nearly 25 years and we will be here for another 25 years.”