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THE SITUATION: REFINANCE CORPORATE DEBT & PROVIDE CAPITAL FOR EXPANSION

The owners of a nationwide construction company in the Pacific Northwest wanted to consolidate business debt and recapitalize the business for expansion plans to move into new markets. A true market leader in its industry, this client was only constrained by its amount of inventory and work crews it could hire. A collateral shortfall meant that few traditional lenders stepped up to help with this financing.

Financing Falls Apart

Another financial institution worked with our client for six months before backing out of the lending facility they previously structured for the client.

Collateral Shortfall

The lending package was secured on inventory, equipment, receivables, and intangible assets because there was no commercial real estate in this loan request.

Working Capital & Expansion Financing

A lack of working capital and liquidity was the client’s biggest challenge facing its growth plan to move into new markets and different niches.

THE SOLUTION: 7(a) SBA LOAN FROM FIRST BUSINESS BANK

First Business Bank, an SBA-designated Preferred Lending Partner, provided a 7(a) loan totaling $3,674,000, which included refinancing corporate debt and a large amount of liquidity for business growth.

Reliability

First Business Bank’s closing team worked closely with the client and their CPA firm to achieve a rewarding end result and avoided a financing fall-through they’d experienced with another lender.

Dependability

First Business Bank provided the financing facility originally proposed and closed in a timely manner.

Functionality

Using the SBA 7(a) program, First Business Bank’s loan facility was the right loan for this client, allowing them to grow.

"Everyone happily pitched in to get this closed and provide the borrower with THE LOAN THEY NEEDED. IT WOULDN’T HAVE HAPPENED WITHOUT EVERYONE’S ASSISTANCE. The transaction is a true testament to working as a cohesive unity to get a goal accomplished.

— David M. Schmidt, SBA Business Development Officer, First Business Bank

WANT TO LEARN MORE?

Let’s talk. Contact your First Business representative today or visit firstbusiness.com/sba.

NOTICE

Access to Online Private Banking is intermittently unavailable; users may not be able to access it at this time. We are working to restore access as soon as possible. If you have questions, please contact us at: 855-257-4149.

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NOTICE

Access to Online Business Banking is intermittently unavailable; users may not be able to access it at this time. We are working to restore access as soon as possible. If you have questions, please contact us at:

• Wisconsin Region: 608-232-5938
• Kansas Region: 913-717-6464

NOTICE

Access to our Remote Deposit Capture system is intermittently unavailable; users may not be able to access it at this time. We are working to restore access as possible. If you have questions, please contact us at:

  1. Wisconsin Region: 608-232-5938
  2. Kansas Region: 913-717-6464

NOTICE

To protect clients and employees, we temporarily suspended courier service. For other deposit needs, please see your client email sent on 3/16/2020 for instructions regarding deposits at your local First Business Bank office.

To set up Mobile Banking, please contact our Treasury Management Support team at 608-232-5938. We will alert you when courier service is available again. Thank you.