First Business Bank Closes $2 Million Factoring Facility to Transportation Company
MADISON, WI – June 9, 2021 – First Business Bank announces the closing of a $2 million factoring facility by its Accounts Receivable Financing group.
The client, which provides transportation services across the Midwest, previously was a client within First Business Bank’s Asset-Based Lending team and then moved on with another lender. During that time, they maintained a relationship with First Business Bank, and when they had to find a new lender, they returned.
“The relationship that First Business Bank established with this company transcended their subsequent borrowing relationship,” said Bill Elliott, President – Accounts Receivable Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “We are excited that they have returned to us and that our factoring facility is able to address their business needs.”
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.