Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $5 million AR-only revolving credit facility for a leading environmentally focused organic seed and soil manufacturer.
Experiencing rapid growth, the company was seeking a lending partner to provide debt financing to support its robust order pipeline. Proceeds from AFS’ facility were used to purchase materials for customer orders and strengthen working capital.
Jason Anish, President & CEO said, “Organic seeds and soil within the home gardening sector are set to experience substantial growth by 2030, with North America leading the market share.” He added, “At AFS, we are proud to partner with a company dedicated to environmental sustainability, providing the necessary working capital to support their growth objectives.”
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 lower-middle-market sector for over 40 years. Specializing in non-bank financing options, AFS provides fast and flexible lines of credit 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.