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Republic Business Credit Funds $250K Fast AR Factoring Facility for Temporary Staffing Firm

Date: Nov 22, 2024 @ 06:00 AM
Filed Under: Staffing Services

Finding the right financial partner is critical for every company but especially for start-ups, which is why an East Coast temporary staffing firm sought out an industry expert in Republic Business Credit.

By partnering with Republic, the temporary staffing company was able to unlock the necessary working capital to meet all its payroll needs so it could focus on growing the business. The founder said, “It felt great to match our funding needs with staffing experts who could help us achieve our goals.”

Republic’s Fast AR factoring solution delivered a $250,000 working capital solution that empowered the company’s founders with the financial freedom to not only match payroll demands but also support its growth initiatives in 2025. Since its initial funding, the company has secured five new customers and will be looking to increase its facility to $550,000 by the end of the month.

“Employment is the backbone of our economy and staffing companies are a critical component of that,” stated William Kemp, SVP of Business Development for Republic. “We are proud to support a business that is poised to have a great impact on both individual people and the nation’s economy as a whole.”

Based in the Northeast, the staffing enterprise specializes in the technology and healthcare market segments and has successfully placed employees in companies across the nation. This includes large, retail-focused enterprises that support consumer electronic devices across the country.

“We work with companies in many different stages of their business cycle, but new businesses are always special to us,” said Stewart Chesters, Republic’s CEO. “We enjoy partnering with a company from its beginning stages and take great pride in its continued growth throughout its entrepreneurial journey.”

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