Austin Financial Services, Inc. (AFS) funded a $2MM ABL facility to an Oil & Gas Industry Transportation Services Company. The Company was opposed to traditional factoring structures or covenant heavy bank lines and instead sought out AFS to provide the flexible credit facility it needed. The CEO of the Transportation Company stated, “The attractiveness of working with AFS was a combination of their depth of talent & experience, a deal free of financial covenants and other controls that we typically see in the ABL industry. It was a perfect match for our business.”
AFS was able to structure a competitive revolving line of credit using the company’s Accounts Receivable assets. Now with adequate access to working capital from AFS’s flexible ABL facility, the company can better service its core clients, fund payroll & overall operational needs, add customers, and support its rapid growth. This facility was structured as a multi-year deal with the potential for future line increases.
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.