MADISON, WI – March 2, 2022 – First Business Bank's Accounts Receivable Financing team recently funded a $12 million ledgered line accounts receivable finance facility.
Volatility in the transportation industry created an opportunity for existing management to purchase 100% of a company. This facility provides capital to purchase the company and support its increasing working capital needs, allowing the company to seize significant opportunities for growth and potentially double in size.
“We had to move quickly on this transaction in order to comply with the terms of the stock purchase agreement,” said Bill Elliott, President - Accounts Receivable Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “We issued our proposal within 24 hours of our initial call, met personally with the company two days later, and completed underwriting within two weeks. Our experienced staff allow us to identify and address underwriting issues very quickly, accelerating the entire process."
The Accounts Receivable Financing team provides funding in amounts of $100,000 to $15,000,000 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.