First Business Bank’s accounts receivable financing team recently funded an $11.5 million factoring and inventory finance facility to a client operating in the food and beverage sector.
“Our client is one of the fastest growing brands in its product sector,” Bill Elliott, president – accounts receivable financing at First Business Specialty Finance, a subsidiary of First Business Bank. “While our accounts receivable financing group does not focus on inventory facilities, our faith in our client’s management team and robust capital structure made this transaction very appealing. This facility will allow our client to continue to grow without as much reliance on future equity raises.”