Austin Financial Services, Inc. (AFS) recently funded a $1,500,000 ABL credit facility comprised of an AR revolver. Based in the Southeast region, the Company operates as a billing services company providing services for the oil/gas exploration and production industry. The Company was looking to replace its existing bank line with a more flexible and competitive LOC customized with their current and long-term business needs in mind. Funds from AFS’s line of credit were used to pay off existing bank obligations and provided additional availability for general working capital needs.
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.