Austin Financial Services, Inc. (AFS) recently funded a $6,000,000 ABL credit facility comprised of an AR & Inventory revolver with an equipment term loan. The client, who has multiple locations throughout the country, is a manufacturer & distributor of industrial paint products. Funds generated from the AFS line of credit were used to pay off the existing bank line and provide additional availability for general working capital needs and support for the client’s immediate growth plans.
“Our team did an amazing job of meeting the client’s financing needs in a very short period of time. The client needed to fund within a four week period and Austin was able to close a complete ABL facility in just over three weeks.” Said Jason Anish, President & CEO. This allowed the client to meet the seasonal need of their new east coast expansion plant.
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.