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Corporation
FINANCIAL | Accounting
republicbc.com

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About Republic Business Credit

Republic Business Credit offers business lending services and accounts receivable management.

Republic Business Credit Headquarter Location

201 St. Charles Ave 2210

New Orleans, Louisiana, 70170,

United States

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Republic Business Credit Web Traffic

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Latest Republic Business Credit News

Republic Provides a $4.5MM ABL Facility with Equity Sponsor

Mar 13, 2020

Republic Provides a $4.5MM ABL Facility with Equity Sponsor March 13, 2020, 09:05 AM When a private equity group needed a debt partner that combined industry knowledge with dynamic execution, they choose Republic Business Credit ’s West Coast team to complete the leveraged buyout of the food manufacturer. Republic prides itself by supporting profitable, growth orientated businesses in addition to distressed companies under its platform. Republic provides Asset Based Loans, E-Commerce & Direct to Consumer loans into growth companies, while favoring its Ledgered Line of Credit and Factoring solutions for challenged, distressed or bespoke situations. Republic expanded its ABL team last year, with the additions of Matthew Begley as Chief Operating Officer, and Jason Carmon as EVP, Western Regional Manager. The facility was provided to a California based natural food manufacturing company. The company sells into Whole Foods, Sprouts and several boutique stores across California. The private equity sponsor originally acquired the company through a leveraged buyout of a distressed company. The product category, management team and significantly reduced price made it a rare opportunity to complement their portfolio of companies. Republic partnered with the equity sponsor to provide an asset based loan in less than thirty days. Republic Business Credit provided a $4.5 million Asset Based Loan with an accordion up to $7 million in order to support the company’s projected growth. In addition to the revolver, Republic structured a $3 million equipment term loan that leveraged their existing manufacturing equipment and a $1 million sublimit for new capital expenditures. Republic’s COO, Matthew Begley says, “We are excited to partner with the management team and the private equity fund to support the manufacturers growth in the food space.”  Republic’s initial funding provided for the necessary runway to implement the full turnaround plan while reducing the size of the check the fund needed to close the transaction. After just a few months since commencing their facility with Republic, the company is on pace to be cashflow positive for all of 2020. “Republic is a proud supporter of the manufacturing industry and relieved to see about 22,000 jobs were created per month in 2018, nearly 500,000 in the past 30 months alone according to a recent Forbes article”, says Robert Meyers, President of Republic, “Manufactures often turn to Republic over the cumbersome SBA 504 or SBA 7A Loan process, ideally, if time permits the entrepreneur can even utilize both.” Republic designed its team, products and locations to support the largest number of smaller and medium-sized businesses in the US. Republic Business Credit partners with private equity firms, 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.

Republic Business Credit Acquisitions

2 Acquisitions

Republic Business Credit acquired 2 companies. Their latest acquisition was Continental Business Credit on December 03, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/3/2019

$99M

Acquired

1

12/3/2019

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$99M

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10

Date

12/3/2019

12/3/2019

Investment Stage

Companies

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Valuation

$99M

$99M

Total Funding

Note

Acquired

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Sources

1

10

Republic Business Credit Team

10 Team Members

Republic Business Credit has 10 team members, including current Chief Executive Officer, Stewart Chesters.

Name

Work History

Title

Status

Stewart Chesters

Chief Executive Officer

Current

Robert Meyers

President

Current

Matthew Begley

Chief Operating Officer

Current

Jason Carmona

Executive Vice President

Current

Scott Bobbins

GE Capital, and CIT Group

Senior Vice President

Current

Name

Stewart Chesters

Robert Meyers

Matthew Begley

Jason Carmona

Scott Bobbins

Work History

GE Capital, and CIT Group

Title

Chief Executive Officer

President

Chief Operating Officer

Executive Vice President

Senior Vice President

Status

Current

Current

Current

Current

Current

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