Austin Financial Services, Inc. (AFS) recently funded a $2.5MM ABL credit facility comprised of an AR & inventory revolver to a manufacturer of energy drinks and supplements. The Company, which is located in the Western Region, was looking to partner with a lender who understood both the opportunities and risks inherent to its business while offering more flexibility under its loan structure at competitive rates.
AFS structured a facility that would allow the Company to service its core clientele while meeting its ongoing general working capital needs. Funds from the AFS line of credit were used to pay off the Company’s existing factoring facility with excess availability used to support 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 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.