Subject: FNC
Women's Clothier Relies on Republic Business Credit for Quick Turnaround During Busy Season
Republic supports Los Angeles-based entrepreneur with growth facility and customer protection ahead of spring shipments
LOS ANGELES, April 12, 2023 /PRNewswire-PRWeb/ -- A designer, manufacturer and wholesaler of missy and junior women's clothes needed a partner ? and fast ? to meet the shipping needs of its spring and summer collections. The company turned to Republic Business Credit to stitch together the necessary financing.
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 client needed a solution within a few weeks as the contract with the incumbent factoring firm was expiring. The company learned of 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," Republic's SVP, Tae Chung said. "We continue to demonstrate our knowledge and experience in the apparel space, which is rewarding."
The company specializes in soft knit tops, dresses, cardigans, blouses, pants and skirts. "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."
Republic's Executive Vice President Jason Carmona helped onboard the client during the quick timeline. "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 complimentary product suite of asset-based lending, traditional factoring and e-commerce supports brands throughout their unique growth cycles," Republic President Robert Meyers said.
Republic Business Credit partners with accountants, lawyers, private equity, investment bankers, banks, consultants, independent sponsors, Small Business Investment Corporations and other referral partners within the apparel community. Republic supports the working capital needs of companies across the United States with needs up to $15 million.
About Republic Business Credit
Republic Business Credit is a nationally recognized commercial finance company supporting the working capital requirements of companies nationwide, including private equity and entrepreneurial businesses. Republic provides asset-based lending, ledgered lines of credit, traditional factoring, factoring and Fast AR Funding. Republic partners with its clients to provide up to $15 million in senior credit facilities to rapidly growing businesses, startups and companies experiencing recoverable distress. Republic is recognized by the Secured Finance Network as one of the largest finance companies in the United States. Republic is proud to be headquartered in New Orleans with additional offices in Chicago, Los Angeles and Houston. Republic is a wholly owned subsidiary of Renasant Bank.
About Renasant Corporation:
Renasant Corporation is the parent of Renasant Bank, a 119-year-old financial services institution. Renasant has assets of approximately $17 billion and operates 198 banking, lending, mortgage, wealth management and insurance offices throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis.
Media Contact
Emma Amorose, Respublica, 412.807.9236, [email protected]
SOURCE Republic Business Credit
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