First Business Bank announces the funding of a $4.5 million accounts receivable factoring facility by its accounts receivable financing group. The new client is a successful transportation company facing growth challenges. This facility will support the client’s continued growth.
“This facility is an example of our rapidly expanding portfolio in the transportation sector,” said Bill Elliott, president – accounts receivable financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “We are committed to helping address the needs of brokers, carriers, logistics warehouses, and freight forwarders.”
The accounts receivable financing team provides funding in amounts of $100,000 to $15,000,000 to companies seeking to improve cash flow and take advantage of every business opportunity.