MADISON, WI - August 29, 2024 - First Business Bank's Accounts Receivable Financing group announces the funding of a $2 million factoring facility for a facility services provider. Our new client provides various maintenance services for corporate clientele.
"We are pleased to be able to support our new client as they continue on their growth track," said Bill Elliott, President - Accounts Receivable Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. "In our underwriting process, we took the time to understand their billing practices and we addressed any risks posed by such practices. This will allow us to fund in a consistent manner."
The Accounts Receivable Financing team finances a broad range of businesses, from start-ups to companies with revenues of over $100 million.
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. Member FDIC
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First Business Financial Services, Inc. is a bank holding company. The Company is engaged in the commercial banking business through its bank subsidiary, First Business Bank (the Bank). The Bank operates as a business bank, delivering a full line of commercial banking products and services tailored to meet the specific needs of small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals. Its products and services are focused on business banking, private wealth, and bank consulting. It offers commercial real estate lending, commercial and industrial lending, asset-based lending, accounts receivable financing, equipment financing, floorplan financing, vendor financing, small business administration (SBA) lending and servicing, treasury management solutions, and company retirement services. Its private wealth management services include trust and estate administration, financial planning, investment management, and private banking.
