MADISON, WIS. — MAY 26, 2020 – First Business Growth Funding, a division of First Business Capital Corp., funded a $5 million accounts receivable purchase facility for a logistics and transportation company. The facility was used to refinance an existing bank loan and for additional working capital for growth opportunities.
Despite challenges created by COVID-19, First Business arranged a successful and timely closing by leveraging its technical proficiencies.
“We are very happy to welcome this client to our growing portfolio,” said Bill Elliott, President of First Business Growth Funding. “First Business never wavered in its commitment to close this transaction by the exiting lender’s target date. Our people, primarily working remotely, worked to diligently fulfill our client’s expectations.”
About First Business
First Business Growth Funding, the accounts receivable financing arm of First Business Financial Services, Inc., provides factoring solutions to service providers, importers, and manufacturers of all sizes throughout the United States with transactions ranging from $100,000 to $10 million.
First Business Financial Services, Inc. (Nasdaq: FBIZ) focuses on the unique needs of businesses, business executives, and high net worth individuals. First Business Bank offers business banking, specialty finance, and private wealth management solutions, and because of its niche focus, is able to provide its clients with unmatched expertise, accessibility, and responsiveness.
Member FDIC, First Business’ corporate headquarters are at 401 Charmany Drive in Madison, WI. For additional information, visit www.firstbusiness.com or call 608-238-8008. The First Business logo is available at http://www.firstbusiness.com/logo/ .