First Business Growth Funding, a division of First Business Capital, is financing multiple COVID-19 vaccine trials at various sites throughout the United States. The COVID-19 vaccine trials are in Stages II and III and involve thousands of subjects.
“We are excited to be able to do our small part to help fight this disease,” Bill Elliott, president of First Business Growth Funding, said. “This type of financing does not fit the norms of traditional factoring, so we had to be creative in structuring a program that benefits our clients while also maintaining our credit integrity. We are very proud of the work that our clients are doing on the front lines.”
First Business Growth Funding, the accounts receivable financing arm of First Business Financial Services, provides factoring solutions to service providers, importers and manufacturers with transactions ranging from $100,000 to $10 million.