Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $4MM ABL facility last month, consisting of an AR & Inventory revolver, with an Equipment term loan, to a private equity owned contract beverage manufacturer based in the Pacific Northwest. Proceeds from AFS’ revolver were used to refinance the bank and will provide ongoing working capital to support the Company’s growth forecasts.
“As traditional sources of capital shrink, AFS is pleased to step in and provide capital support for the growth investment initiatives of our private equity partners and their lower middle market portfolio companies,” said Jason Anish, President & CEO. “Our experienced underwriting and client relationship teams worked closely with the Company’s management team to close the facility by the deadline.”
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.