First Busi­ness launches Fac­tor­ing Op­er­a­tion

The Pak Banker - - Front Page -

MADI­SON

First Busi­ness Fi­nan­cial Ser­vices an­nounces that through its as­set based lend­ing com­pany, First Busi­ness Cap­i­tal Corp, it has en­tered the fac­tor­ing busi­ness with the hir­ing of a team of three ex­pe­ri­enced fac­tor­ing pro­fes­sion­als.

The busi­ness will op­er­ate as First Busi­ness Fac­tors, a di­vi­sion of First Busi­ness Cap­i­tal Corp. with its pri­mary lo­ca­tion at 2400 East Devon Ave., Suite 211, Des Plaines, Illi­nois.

Gail Heldke has been named Se­nior Vice Pres­i­dent and Di­vi­sion Man­ager of First Busi­ness Fac­tors and Rob­bin Sal­vage and Jorge Varela, pre­vi­ously af­fil­i­ated with Work­ing Cap­i­tal So­lu­tions have joined First Busi­ness Fac­tors as Vice Pres­i­den­tOper­a­tions Man­ager and Ac­count Man­ager, re­spec­tively.

Corey Cham­bas, Pres­i­dent and CEO, of First Busi­ness Fi­nan­cial Ser­vices stated FBFS has been look­ing at en­ter­ing the fac­tor­ing busi­ness for some time. Fac­tor­ing is an ef­fec­tive fi­nanc­ing alternative for young, grow­ing, emerg­ing com­pa­nies that have solid col­lat­eral, but lack other at­tributes to qual­ify for con­ven­tional fi­nanc­ing. First Busi­ness, through our other banks and sub­sidiaries, cur­rently pro­vides tra­di­tional bank loans.

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