First Business launches Factoring Operation
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.