Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3MM asset-based lending (ABL) credit facility comprised of an accounts receivable and inventory revolver to a 3rd generation food production and distribution company that serves some of the country’s leading hospitality brands.
The company was seeking to partner with a leader in the industry to provide financing solutions that met its near-term seasonal demand and offer ongoing working capital support to achieve its long-term growth objectives. Proceeds from AFS’ revolver were used to refinance the company’s existing bank debt and for inventory purchases.
Jason Anish, President & CEO stated, “As an industry leader, AFS is proud to help support another successful business with such a long and rich history.” He continued, “Our financing solutions are crafted with our customers in mind. We seek to provide lending options that help our customers optimize their businesses and continue to grow.”
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.