The Problem: Distributor Loses Bank Relationship
We are pleased to welcome back a valued former client with the extension of a $1.5 million Accounts Receivable Purchase Facility.
- The Company
A wholesaler of computer equipment and office accessories, the client exited its Factoring relationship with First Business when it obtained local bank financing.
- The Problem
The client’s bank recently was purchased by another bank, which asked our client to exit. The company was completing a restructuring of their operations, and although company executives had many refinancing choices, they wanted a trusted, reliable financing partner.
The Solution: $1.5 Million Accounts Receivable Factoring Facility
We are delighted to work with our former client again, and even happier to hear that we were their first choice when their local bank relationship dissolved. We recently funded the $1.5 million facility with little disruption to our client’s operations.
- Quick Closing
We were to underwrite and close the facility quickly thanks to its streamlined approval process.
- Commitment To Service
The successful closing of this transaction is the result of our ongoing commitment to client service. Our Operations Team made such a favorable impression on these company executives that they felt comfortable returning to us.