Austin Financial Services, Inc. (AFS) closed a $1,250M ABL facility, consisting of an accounts receivables & inventory revolver, to a Midwest based Company who manufactures and assembles fuel injection systems to OEM’s and aftermarket dealers worldwide. The Company required additional working capital support for ongoing operations and inventory purchases to help grow its customer base.
Under the AFS structure, the Company will have improved availability and cash flow. The Company plans to use proceeds from AFS’ credit line for special projects and for capital expenses to ensure long term business growth. Funds from AFS’ credit line were also used for near term supplier payments.
About Austin Financial Services (AFS)
Headquartered in Los Angeles, Austin Financial Services (AFS) is a privately held, nationwide leader in asset-based lending, serving the middle-market sector for over 40 years. Specializing in alternative funding options, AFS provides support to small and medium-sized businesses that are experiencing growth or undergoing a turnaround. Clients typically have revenues ranging from $10MM to $250MM and have borrowing needs of up to $20MM. AFS’s comprehensive portfolio includes flexible revolving lines of credit secured by accounts receivable and inventory, along with term loans secured by equipment.