First Business Bank’s Accounts Receivable Financing group funded a $4 million factoring facility for a software provider. The firm specializes in integrating its proprietary software to robotic systems, transforming standard automation into intelligent warehouse solutions. It then assembles the full robotic systems and sells them to large warehouses, which use the AI-enhanced robotics to improve employee safety and significantly reduce costs.
“With 100% concentration to one large debtor, our new client was finding it difficult to obtain traditional asset-based lending or bank finance,” said Kristen Palmer, vice president, Accounts Receivable Financing at First Business Specialty Finance, a subsidiary of First Business Bank. “We are, however, very comfortable funding single-debtor transactions for a variety of clients and happy to cater to this untapped space!”
The Accounts Receivable Financing team finances a broad range of businesses, from start-ups to companies with revenues of over $100 million.
