First Business Bank’s accounts receivable financing group funded a $1 million factoring facility for a Delaware-based manufacturer and wholesaler of steel trusses to support the company’s growth.
“As everyone knows, the construction sector, particularly with respect to steel, has faced great uncertainty this year,” Lana Fidelscaia, vice president – accounts receivable financing at First Business Specialty Finance, a subsidiary of First Business Bank, said. “Our new client is utilizing our factoring facility to help them address the uncertainty in the market.”
