Daily News: May 3, 2019

First Business Growth Provides $8.5MM L/C to Bakery


First Business Growth Funding, the accounts receivable financing arm of First Business Financial Services, closed an $8.5 million ledgered line facility for a major commercial bakery.

First Business Growth Funding completed the financing transaction within weeks after another firm failed to close in a timely manner. The accounts receivable financing agreement helps position this client, a multi-generational family owned business, for future growth.

“We’re excited about the opportunity to provide financing to this long-running, family-owned business,” says First Business Growth Funding President Bill Elliott. “Our ability to pick up the pieces and close the transaction quickly is a testament to our team’s creativity and dedication. Our experts went above and beyond by providing training required to support this client and, ultimately, set the stage for a successful relationship going forward.”

First Business Growth Funding provides accounts receivable financing solutions to service providers, importers, and manufacturers of all sizes throughout the U.S. with transactions ranging from $100,000 to $10 million.