Austin Financial Services, Inc. (AFS) recently funded a $3.0MM ABL credit facility comprised of Accounts Receivable to a Corporate Event Planning Company located in the Pacific Northwest. The Company was seeking to replace its current factoring facility with an ABL structure which will provide better working capital support and offer more flexibility for future growth plans.
AFS designed a structure for the Company that includes a revolver facility that will be used for ongoing working capital support and a seasonal stretch capability to cover capital shortfalls during the seasonally slow periods. After using the funds from AFS’s line of credit to pay off the existing factoring facility, the Company will have excess availability under the line to meet other near-term obligations.
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.