Austin Financial Services, Inc. (AFS) funded a $3.1MM senior secured credit facility, comprised of an AR and Inventory revolver with a term loan secured by M&E, to a vineyard that specializes in the production and distribution of bulk wine. The Company, which is located in the Southwest, was looking to partner with a lender whose financing solutions are designed with the Customer’s business in mind.
“Our team took a disciplined approach to understand the risks and opportunities that are inherent to the customer and its industry.” Said Jason Anish, AFS’s President & CEO. “As a result, we were able to structure a facility that maximizes the Company’s collateral assets to create additional borrowing availability while also providing greater flexibility in the form of a single working capital facility.” Funds from AFS’ credit line were used to pay off the senior bank debt, for general working capital and to support new business initiatives.
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.