Austin Financial Services, Inc. (AFS) is pleased to announce the completion of a $5MM senior secured credit facility comprised of an AR and Inventory revolver to a manufacturer of specialty trucking equipment and accessories located in the Midwest. The Company was seeking a seasoned and knowledgeable lending partner to identify how it can best utilize the assets of its business to maximize cash flows long-term.
AFS structured a facility that will allow the Company to better service its clientele and maintain its advantage in sourcing, warehousing, and distributing. Funds from AFS’ line of credit will be used for ongoing general working capital needs and to support growth initiatives of the business.
Jason Anish, President & CEO said, “We are pleased to provide a long-term financing solution to another customer in the Midwest region.” He continued, “We anticipate further expansion of our nationwide footprint and this transaction enables us to respond quickly to the needs of the customer base in the region while enhancing our market presence.”
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.