First Business Bank’s accounts receivable financing funded a $4 million factoring facility for a software provider.
“With 100% concentration to one large debtor, our new client was finding it difficult to obtain traditional asset-based lending or bank finance,” Kristen Palmer, vice president – accounts receivable financing at First Business Specialty Finance, a subsidiary of First Business Bank, said. “We are, however, very comfortable funding single-debtor transactions for a variety of clients and happy to cater to this untapped space!”
