Austin Financial Services, Inc. (AFS) recently funded a $3.2MM revolver & Term Loan facility to a horizontal directional drilling company located in the Mountain West region. The Company was looking to replace its existing banking relationship with a more flexible financing partner who offered consistent and continuous access to capital.
AFS structured a facility that will allow the Company to service its core clientele while meeting its ongoing general working capital obligations. Additionally, the Company plans to use capital from its AFS line of credit to finance its near and long-term growth objectives.
“As we grow our national presence in the marketplace, it becomes more important for our team to be more nimble and provide innovative financial solutions in a fast time frame,” said Jason Anish, AFS’s President and CEO. “Providing our clients with a value-based solution to their funding needs is the best way we can help them thrive.” he adds. “Our team exceeded the client’s expectations and delivered once again on our commitment to provide a high quality product and exceptional service.”
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.