Republic Business Credit Provides $15 Million Factoring Facility to Midwestern Staffing Agency
Republic Business Credit has provided a $15 million factoring facility to an established staffing agency in the Midwest. The funding was secured rapidly, within three weeks, and is intended to support daily operations, address an unexpected tax liability, and facilitate long-term growth plans for the company. The staffing firm specializes in professional services and skilled trades placements across critical industries. Despite a decade of steady growth, it faced operational challenges due to traditional lending constraints that prevented its bank from expanding credit availability. Republic leveraged sector expertise and collaboration with the previous lender to execute an efficient transaction without disrupting payroll or operations. Republic's facility includes a 90% advance rate for payroll and taxes, along with sublimit advances on direct-placement accounts receivable. The CEO of Republic Business Credit highlighted this deal as emblematic of their commitment to supporting middle-market businesses during critical moments.
