Republic Business Credit, a national commercial finance company offering working capital solutions, provided a $1 million factoring facility to a growing ice cream manufacturer based on the West Coast. The financing will support the expansion of its production capacity to meet the rising demand for its products.
The company’s prior lender had decided to shift markets at a pivotal time in the manufacturer’s growth journey, just as it needed a partner that could scale with it as it sold to larger retailers. Given Republic’s specialized knowledge and expertise in the food and beverage and retail industries, as well as their focus on small and middle market businesses, the incumbent lender referred the company’s owners to Republic.
Republic structured the credit facility in economic terms similar to those of its former lender while increasing the facility size to $1 million and providing an advance on its accounts receivable to support new orders, pay critical vendors and meet payroll on time.
“The success of this facility is rooted in understanding the client’s vision and the needs of their team,” Matthew Begley, chief operating officer of Republic Business Credit, said. “Leadership means creating alignment and setting a clear direction, giving our clients the tools and confidence to grow profitability long-term.”
This facility will support the company’s growth plans and ensure long-term financial stability.
“This deal highlights our consultative and collaborative approach to financing,” Eric Dorner, senior vice president of Republic Business Credit, said. “This partnership is a testament to the trust and confidence our associates, partners and clients have in us to help navigate their path to success.”
