FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

First Business Bank Funds $3MM Factoring Facility to Waste Management Company

Date: Apr 27, 2022 @ 07:09 AM
Filed Under: Factoring News

First Business Bank announces the funding of a $3 million accounts receivable factoring facility by its Accounts Receivable Financing group. Our new client operates a recycling business as well as several landfills. The facility will help augment the company’s cash flow following an acquisition.  

“This transaction is an example of how a company may utilize an accounts receivable financing program to complete an M&A transaction without having to raise additional equity,” said Bill Elliott, President - Accounts Receivable Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “Our alternative financing allowed our client to avoid the distracting and expensive process of trying to quickly raise equity."

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.