MADISON, WI – November 30, 2023 – First Business Bank announces that its Accounts Receivable Financing team recently funded a $4 million factoring facility to a client operating as an IT consulting firm.
First Business Bank’s new client is in the midst of a turnaround. The First Business Bank facility refinanced old debt and provided the necessary working capital for future growth.
“We are excited about the opportunity to help our new client grow and flourish,” said Bill Elliott, President - Accounts Receivable Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “As we worked closely with our client’s advisors, we were able to create a structure that will facilitate the client’s future success.”
The Accounts Receivable Financing team provides funding in amounts of $100,000 to $18,000,000 to companies seeking to improve cash flow and take advantage of every business opportunity.
About First Business Bank
First Business Bank® specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC®. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc®. (Nasdaq: FBIZ). For additional information, visit firstbusiness.bank. Member FDIC