First Business Bank Closes $8.4 Million Turnaround Asset-Based Lending Financing
MADISON, WI – February 25, 2021 – Mike Colloton, Vice President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $8,400,000 revolving line of credit facility, real estate term loan, and equipment term loan for a manufacturer/distributor of restaurant equipment in Ohio.
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 $16,000,000. The financing assists these companies with a turnaround, restructuring, acquisition, recapitalization, or rapid growth 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.