First Business Bank Funds $5 Million Factoring Facility For Business Lead Originator
First Business Bank announces that its Accounts Receivable Financing team recently funded a $5 million Accounts Receivable Factoring facility for a company that generates sales leads for other businesses. The client uses a combination of direct calling aided by artificial intelligence to maximize output for its clients.
“First Business Bank is very comfortable funding various types of IT-related transactions,” said Bill Elliott, President – Accounts Receivable Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “Each of these transactions can be somewhat unique. We take time to understand exactly how the client’s business operates, identify the risks, and structure suitable mitigants.”
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.