Austin Financial Services, Inc. (AFS) recently funded a $2,000,000 ABL credit facility comprised of an AR revolver. The Company who operates as a mortgage advisory firm is based in Los Angeles, CA and provides compliance and litigation consulting services to customers nationwide. The Company was looking to replace its existing bank line with a more flexible and competitive LOC that was 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 provide additional availability for general working capital needs and new business opportunities.
“Our team did a great job to provide a thorough analysis of the transaction which enabled us to close the deal in a very fast time frame,” said Jason Anish, AFS’s President & CEO. “The client was looking to fund quickly to pay off its existing lender. AFS was able to help them meet this goal in under three weeks.” he continued. “This enabled the client to free up availability in its borrowing base to meet its immediate cash needs and project for near term growth.”
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.