First Business Growth Funding Announces $1.5 Million Closed Deal
MADISON, WIS. — December 9, 2019 – First Business Growth Funding, the accounts receivable financing arm of First Business Financial Services, Inc. (Nasdaq: FBIZ), is pleased to announced the closing of a $1.5 million Accounts Receivable Purchase Facility for a former client – a wholesaler of computer equipment and office accessories.
Several years ago, this former client exited its Factoring relationship with First Business when it received bank financing in its local market. Recently, their banking relationship was impacted negatively during a bank acquisition. They then turned back to First Business for help. First Business was able to underwrite and close the facility quickly with little disruption to the client’s operations.
“We are honored that this client is once again entrusting their financing needs to First Business Growth Funding,” said First Business Growth Funding President Bill Elliott. “Their decision to return to us is a clear statement about our client focus, flexibility, and service capabilities.”
About First Business Bank
First Business Financial Services, Inc. (Nasdaq: FBIZ) is a bank holding company and parent of First Business Bank focused on the unique needs of businesses, business executives, and high net worth individuals. First Business offers business banking, specialty finance, and private wealth management solutions, and, through its niche focus, provides clients with unmatched expertise, accessibility, and responsiveness.