Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $5MM ABL facility to a provider of communications and VoIP solutions to large enterprise businesses. Proceeds from AFS’ revolver were used to refinance the bank facility, with additional availability to support increased demand from existing customers, and to meet the Company’s long-term growth targets.
“Our strong partnerships with PE owned businesses and strong management teams continue to be one of the driving forces of our business. We delivered on our promise to execute a successful refinancing of the customer’s existing credit facility and provided new capital that will help them to continue to grow their business.” said Jason Anish, President and CEO.
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.