Republic Business Credit Supports Growth of Oilfield Services Company with $16 Million Asset-Based Line of Credit

Industry expertise and greater borrowing availability prove to be the winning formula

NEW ORLEANS, Oct. 23, 2025 /PRNewswire/ -- Republic Business Credit, a national commercial finance company offering working capital solutions, provided a $16 million asset-based facility to a Gulf Coast-based oilfield services company. The financing provides greater borrowing availability to support ongoing growth initiatives, including the expansion of the Company's manufacturing capabilities, as well as refinance existing indebtedness.

The financing agreement was structured to optimize working capital with greater borrowing availability and enhanced financial flexibility to meet the Company's future growth plans with a $20 million accordion feature, a significant increase. Republic crafted a facility with up to a 90% advance rate against billed accounts receivable, advances against unbilled invoices, and a carve-out for capital expenditures such as equipment purchases.

"This is an opportunity to support a dynamic company with increased liquidity and access to supplemental capital," said Eric Dorner, SVP of Republic Business Credit. "The combination of our industry expertise and scalable capital will enable us to support their next chapter."

The Company, which provides a variety of offshore and onshore services including fabrication, construction, maintenance, and safety, has a strong history of financial performance and operational discipline, a diverse product line and significant growth potential. The Company sought a local lender with a deep understanding of the oilfield services sector. Republic Business Credit, with its extensive experience in the region, was the ideal growth partner. 

"Over fifteen years ago, we founded Republic with the goal of partnering with growing businesses in the Gulf Region, and we are proud to continue to be headquartered in New Orleans," said Stewart Chesters, CEO of Republic Business Credit. "Since our founding, we have expanded nationwide to support middle market growth opportunities, and we are honored to play a role in our partners' continued success."

Leigh Guglielmo, SVP of Business Development for Republic Business Credit, added, "This was a true team effort, both internally and externally. We were able to work together to deliver a solution that perfectly met the growing client's needs."

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, e-commerce, ledgered lines of credit, factoring and Fast AR Funding. Republic partners with its clients to provide up to $20 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, Houston and Atlanta. Republic is a wholly owned subsidiary of Renasant Bank.

SOURCE Republic Business Credit, LLC