When a West Coast privately owned apparel manufacturer sought funding for their 2020 summer orders, they choose Republic Business Credit to finance their supplier payments.
The company is a distributor of knitted and woven fabric into the apparel manufacturing community. The company typically finds itself selling into U.S. apparel manufacturers across summer women casual fashion, ranging from skirts, jumpsuits, dresses and tops. The company finds its fabric being used across natural, relaxed and form-fitting California casual wear segment. The company is well positioned for the post-COVID-19 store re-openings, as they had no debt entering the 2nd quarter of 2020. While the orders are scheduled to ship in June, the company wanted the confidence provided by Republic’s credit protection ensuring they would get paid for the goods no matter what happened over the summer.
Republic provided a $1.75 million non-recourse factoring facility with credit protection and extended customer payment terms eligibility to a West coast based apparel importer.
“We believe our factoring and lending products will be even more necessary as states reopen in 2020,” Republic’s COO Matt Begley said. “We are excited to help all small businesses on the front supply lines of getting summer goods in stores and returning closer to normal lives.”
