Republic Business Credit aided a commercial banker that was unable to help a small business exporter due to the underwriting standards for the Export-Import Bank of the United States
NEW ORLEANS, July 11, 2019 /PRNewswire-PRWeb/ -- When a rapidly growing small business was declined by the Export-Import Bank of the United States, they leveraged Republic Business Credit's export expertise to fund their cash flow. Republic was founded by Stewart Chesters, who emigrated from the United Kingdom in 2001. Republic funded the export receivables to the United Kingdom despite the ongoing uncertainty caused by the latest developments of Brexit. Republic will always aid entrepreneurs that form and create the world's supply chains that current face challenges from Brexit and a changing tariff landscape.
The company was founded in 2018 by four advertising executives who previously worked for large multinational firms and saw a service gap being offered by larger marketing agencies. The company provides customized digital marketing, advertising, print and experiential solutions for its customers throughout the US and Europe. The company assumed with their backgrounds they would simply get a line of credit from their bank, however, they were declined due to the number of years in business and reliance on United Kingdom customers.
Republic provided a $750k Export Factoring Facility along with helping the company obtain a credit insurance policy that guaranteed the collectability of the receivables. The cash flow of the company struggled with extended terms, which are becoming more normal by publicly traded and advertising communities.
Republic provided the stability, support and growth capital needed to build their company while combating Net 90 day payment terms. "As as a proud Brit, it is very rewarding when you can help support US companies to export back to my homeland," said Stewart Chesters, Chief Executive Officer and founder of Republic. "We have several customers that either emigrated to the US or choose to expand their business by exporting goods or services to Europe. We partner with founders and entrepreneurs that want to expand their business without being saddled by the fear or uncertainty of customer location."
Republic Business Credit partners with banks, accountants, sponsors, lawyers and investment banks to collaboratively support entrepreneurs across the United States, to create value, by enabling them to focus on growing successful businesses.
Additional Information - Republic Business Credit is proud to be founded and headquartered in New Orleans. Republic Business Credit provides flexible working capital solutions to help rapidly growing businesses, start-ups, and companies in turnaround or recoverable distressed situations.
Winner of the Emerging Growth Company of the Year award from the Louisiana Chapter of the Association of Corporate Growth, and the FactoringClub's Best Factoring Company Award for 2018, 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 receivables finance, 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 $3.75 billion in fast, flexible working capital.
The company is led by Stewart Chesters, CEO, a British transplant to New Orleans who has led commercial finance companies on both sides of the Atlantic; Robert Meyers, President, a new business leader previously with an international finance company in Chicago and Los Angeles.