First Business Capital provided an asset-based lending turnaround financing deal consisting of a $4.9 million revolving line of credit, a real estate term loan and an equipment term loan for a plastic injection molding business in Michigan.
First Business Capital, a division of First Business Financial Services, hired Brian Banning as vice president of business development. Banning has more than 30 years of experience in financial services and is currently located in the Detroit metro area.
First Business Growth Funding 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.
First Business Growth Funding, a division of First Business Capital, funded a $5 million accounts receivable purchase facility for a logistics and transportation company.
First Business Capital funded a $11 million revolving line of credit facility for a restaurant supplies distributor in Oregon.