Austin Financial Services, Inc. (AFS) recently funded a $1.5MM ABL credit facility comprised of an AR revolver with an inventory sub-line to an importer/wholesale distributor of restaurant equipment and furniture. The Company, which is located in the Western Region, was looking for a lending partner who took a broad, integrated approach to its business and offered a more flexible and competitive loan structure.
AFS structured a facility that will allow the Company to maintain its advantage in sourcing, warehousing, and distributing to better service its clientele, while meeting ongoing general working capital needs and supporting new business opportunities.
“This client was looking for a strategic lending partner with an ability to structure a facility that would meet both its current and long-term funding needs while closing in a fast timeframe. Our team did an exceptional job on closing this deal in less than 3 weeks and exceeding the customer’s expectations.” said Jason Anish, AFS’s President and CEO.
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.