Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $2.5MM credit facility to a distributor of foam, resin and other products sold to major retailers and used by builders/contractors in the residential & commercial market. Proceeds from AFS’ revolver were used to refinance the bank and will also provide the Company with more capital for strategic purchases of inventory in support of the ownership’s growth plans.
“Companies are struggling as access to capital becomes increasingly difficult to secure,” said Jason Anish, President and CEO. He continued, “As banks and other traditional funding sources continue to tighten lending standards and access to credit, AFS is committed to providing clients with reliable and flexible financing solutions to finance operations and support their growth 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.