MADISON, WI – July 20, 2023 – Michael Doyle, Vice President - Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $11 million revolving line of credit for the acquisition of a pipe/valve/fittings distributor in Missouri. First Business Bank’s Asset-Based Lending team worked quickly and diligently to close the financing in 28 days.
The Asset-Based Lending team provides asset-based loans to businesses in transition with sales from $10,000,000 to $100,000,000+ and financing requirements of up to $18,000,000. Our financing assists these companies with a turnaround, a restructuring, to accommodate an acquisition, or if experiencing rapid growth.
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.