TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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October 2, 2023
Source: Republic Business Credit
Republic provides $3.5 million Asset Based Loan to boost company profitability
LOS ANGELES – When an Oregon-based private equity-owned metal injection molding company sought a new partner to replace their bank line of credit, they chose Republic Business Credit. Republic extended a $3.5 million asset-based loan revolver with an additional $500k equipment term loan.
The company is a global leader in metal injection molding techniques, offering a range of services, such as tooling, finishing and product design. Metal injection molding is a metalworking technique used to create net shape, complex metal parts in large quantities. It finds widespread use across industries, including electronics, automotive, medical, and industrial sectors.
The company has been profitable for years but with a heavily export-based model, they were vulnerable to shifts in the market and changes in major buyers’ needs. It was also in search of a new lender that could better meet its credit facility and international market share. Republic was that partner.
Republic was able to close this agreement with the client within just six weeks of an executed letter of intent. Republic’s speed, experience and products made it the perfect partner for this company.
The company was able to return to profitability and is projected to continue growing profitability over the next 12 months.
“This is an excellent example of how asset-based loans can help a historically stable company regain its footing after an unexpected disruption,” said Republic Senior Vice President and Underwriting Manager, Brian Daray. “We are thrilled to have helped this industry-leading company reach their goals quickly and efficiently.”
Republic was also suited to meet the company’s needs on international receivables beyond what is industry standard and provide sufficient, forward-looking availability and covenants.
“As an asset-based lender, we are able to be nimble to meet the needs of our clients and help them find a solution that works best for their business,” said Republic President, Robert Meyers. “We are proud to have helped this company recover and set new goals for its future.”
Republic partners with private equity, independent sponsors and family offices across the county to support their portfolio companies.
About Republic Business Credit
Republic Business Credit is a nationally recognized commercial finance company supporting the working capital requirements of companies nationwide, including private equity and entrepreneurial businesses. Republic provides asset-based lending, ledgered lines of credit, traditional factoring, factoring and Fast AR Funding. Republic partners with its clients to provide up to $15 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress. Republic is recognized by the Secured Finance Network as one of the largest finance companies in the United States of America. Republic is proud to be headquartered in New Orleans with additional offices in Chicago, Los Angeles and Houston. Republic is a wholly owned subsidiary of Renasant Bank.
LOS ANGELES – When an Oregon-based private equity-owned metal injection molding company sought a new partner to replace their bank line of credit, they chose Republic Business Credit. Republic extended a $3.5 million asset-based loan revolver with an additional $500k equipment term loan.
The company is a global leader in metal injection molding techniques, offering a range of services, such as tooling, finishing and product design. Metal injection molding is a metalworking technique used to create net shape, complex metal parts in large quantities. It finds widespread use across industries, including electronics, automotive, medical, and industrial sectors.
The company has been profitable for years but with a heavily export-based model, they were vulnerable to shifts in the market and changes in major buyers’ needs. It was also in search of a new lender that could better meet its credit facility and international market share. Republic was that partner.
Republic was able to close this agreement with the client within just six weeks of an executed letter of intent. Republic’s speed, experience and products made it the perfect partner for this company.
The company was able to return to profitability and is projected to continue growing profitability over the next 12 months.
“This is an excellent example of how asset-based loans can help a historically stable company regain its footing after an unexpected disruption,” said Republic Senior Vice President and Underwriting Manager, Brian Daray. “We are thrilled to have helped this industry-leading company reach their goals quickly and efficiently.”
Republic was also suited to meet the company’s needs on international receivables beyond what is industry standard and provide sufficient, forward-looking availability and covenants.
“As an asset-based lender, we are able to be nimble to meet the needs of our clients and help them find a solution that works best for their business,” said Republic President, Robert Meyers. “We are proud to have helped this company recover and set new goals for its future.”
Republic partners with private equity, independent sponsors and family offices across the county to support their portfolio companies.
About Republic Business Credit
Republic Business Credit is a nationally recognized commercial finance company supporting the working capital requirements of companies nationwide, including private equity and entrepreneurial businesses. Republic provides asset-based lending, ledgered lines of credit, traditional factoring, factoring and Fast AR Funding. Republic partners with its clients to provide up to $15 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress. Republic is recognized by the Secured Finance Network as one of the largest finance companies in the United States of America. Republic is proud to be headquartered in New Orleans with additional offices in Chicago, Los Angeles and Houston. Republic is a wholly owned subsidiary of Renasant Bank.
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