First Business Bank’s accounts receivable financing group closed a $2 million factoring facility for a provider of transportation services across the Midwest.
The client was previously a client within First Business Bank’s asset-based lending team and then moved on with another lender. While with the other lender, the client maintained a relationship with First Business Bank and it returned when it had to find a new lender.
“The relationship that First Business Bank established with this company transcended their subsequent borrowing relationship,” Bill Elliott, president of accounts receivable financing at First Business Specialty Finance, a subsidiary of First Business Bank, said. “We are excited that they have returned to us and that our factoring facility is able to address their business needs.”
