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."