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

April 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."

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