Austin Financial Services, Inc. (AFS) recently funded a $2,500,000 ABL credit facility comprised of an AR revolver and stretch piece. The Company who operates as a delivery firm is based in Los Angeles, CA and provides on demand, next day, or shuttle delivery services to customers statewide. The Company replaced its existing factoring line with a more flexible and competitive ABL line of credit. Additionally, AFS provided a Stretch Piece that was customized with the company’s current and long term business needs in mind. Funds from AFS’s line of credit were used to pay off existing factor obligations and provide additional availability for general working capital needs. Funds from the Stretch Piece were used to fund new business expansion.
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.