Former Client Returns To First Business Bank
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.
A wholesaler of computer equipment and office accessories, the client exited its Factoring relationship with First Business when it obtained local bank financing.
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 A/R 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.
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.
"We are honored that this client is once again entrusting us with their financing needs. Their decision to return to us is a clear statement about our CLIENT FOCUS, FLEXIBILITY, AND SERVICE CAPABILITIES.”
— Bill Elliott, President – Accounts Receivable Financing