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First Business Bank Funds $2.5 Million Factoring Facility To Smart Bus Platform
September 28, 2023
Source: First Business Bank
MADISON, WI – September 28, 2023 – First Business Bank announces its Accounts Receivable Financing team recently funded a $2.5 million factoring facility to a client operating as a smart bus platform.
First Business Bank’s new client specializes in transporting employees to work locations. It utilizes technology to identify markets in which workers are not adequately served by public transportation and then devises routes that efficiently serve both employee and employer. The service has already gained traction with Fortune 500 companies.
“First Business Bank took the time to understand our client’s business, including some unique billing characteristics,” said Bill Elliott, President - Accounts Receivable Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “The time we spent with ownership allowed us to become very comfortable with this transaction.”
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.
About First Business Bank
First Business Bank® specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC®. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc®. (Nasdaq: FBIZ). For additional information, visit firstbusiness.bank. Member FDIC
First Business Bank’s new client specializes in transporting employees to work locations. It utilizes technology to identify markets in which workers are not adequately served by public transportation and then devises routes that efficiently serve both employee and employer. The service has already gained traction with Fortune 500 companies.
“First Business Bank took the time to understand our client’s business, including some unique billing characteristics,” said Bill Elliott, President - Accounts Receivable Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “The time we spent with ownership allowed us to become very comfortable with this transaction.”
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.
About First Business Bank
First Business Bank® specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC®. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc®. (Nasdaq: FBIZ). For additional information, visit firstbusiness.bank. Member FDIC
