Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3.4MM asset-based lending (ABL) facility comprised of an AR revolver and equipment term loan to an analytical lab and safety compliance testing company servicing the food & beverage, vitamin, and botanical manufacturing industries.
The Company was seeking to refinance its existing debt stack and needed a trusted lending partner to provide flexible financing options to support their growth plans. Proceeds from AFS’ facility were used to eliminate the company’s MCA loans, refinance the existing bank term debt, and will provide ongoing working capital support.
Jason Anish, President & CEO said, “AFS’ financing solutions enable our clients to run their businesses efficiently and effectively.” He continued, “Our service & product offering are integral to businesses as they seek to make informed decisions on optimizing their financing to successfully execute their objectives and grow their business.”
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.