First Business Bank Funds $4MM Factoring Facility for IT Consulting Firm

First Business Bank’s accounts receivable financing team recently funded a $4 million factoring facility for a client operating as an IT consulting firm.

First Business Bank’s new client is in the midst of a turnaround. The facility refinanced old debt and provided the necessary working capital for future growth.

“We are excited about the opportunity to help our new client grow and flourish,” Bill Elliott, president of accounts receivable financing at First Business Specialty Finance, a subsidiary of First Business Bank, said. “As we worked closely with our client’s advisors, we were able to create a structure that will facilitate the client’s future success.”