Texas-based solar panel installation company Southern Solar has sought a long-term funding partnership with Republic Business Credit.
The terms of the $3 million factoring agreement are structured similarly to an asset-based loan, as the company is only being charged on their facility utilization, says Republic. The adjustment is expected to allow company executives to focus on core business operations while achieving their growth targets in the upcoming quarters.
“This is the perfect example of how we provide rapidly growing companies with working capital freedom,” says Robert Meyers, president of Republic.
“We tailored a private credit solution to support the company’s long-term growth goals and enhance the positive effects on Texas’ economy through the workforce and energy solutions this company provides.”
Republic is headquartered in New Orleans with additional offices in Chicago, Los Angeles, Houston and Atlanta. It is a wholly owned subsidiary of Renasant Bank.
