First Business Bank Funds $10 Million Factoring Facility to Transportation Brokerage
First Business Bank has announced that its accounts receivable financing team recently funded a $10 million Accounts Receivable Ledgered Line facility to a client operating as a transportation brokerage.
“This transaction is an example of First Business Bank’s continuing commitment to the transportation sector,” said Bill Elliott, president – accounts receivable financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “We understand the challenges that the sector is presently facing, and we are actively structuring transactions to help our clients deal with these challenges.”
The accounts receivable financing team provides funding in amounts of $100,000 to $18,000,000 to companies seeking to improve cash flow and take advantage of every business opportunity.