When a southeastern private equity company sought refinancing for one of their portfolio companies, they set sail towards Republic Business Credit due to a previous successful client experience.

With the cyclical and large project nature of the shipyard business, they needed a flexible and covenant free solution that leveraged their receivables during seasonal periods.  Additionally, the company evaluated prospective financiers based on their industry experience and holistic approach to understanding government contracts. 

Republic provided the business with a $6 million working capital facility without restrictive covenants of traditional senior debt, and provided supplemental call facilities that smoothed out their cash flow during the cyclical periods to the business.

“Shipyard’s provide marine and defense skilled employment opportunities and maintain strong ties to the communities they operate,” said Stewart Chesters, Chief Executive Officer of Republic. “As a commercial finance company, we are excited to support businesses that represent their respective communities and support our national defense efforts.  Our strong relationships with capital providers allow us to support their portfolio companies with flexible working capital facilities.”

Republic Business Credit provides flexible working capital solutions to help rapidly growing businesses, start-ups, and companies in turnaround or recoverable distressed situations that need facilities of up to $10 million. Winner of the 2015 Emerging Growth Company of the Year award from the Louisiana Chapter of the Association of Corporate Growth, the Republic Business Credit team has the expertise necessary to meet the nuanced financial needs of companies across a wide variety of industries. It provides factoring and asset-based facilities, including ABL, receivables purchase lines of credit, inventory, equipment, and purchase order lines. Since its founding in 2011, Republic Business Credit has provided over $2.0 billion in fast, flexible working capital.