Austin Financial Services, Inc. (AFS) recently funded a $4.3MM ABL credit facility comprised of an AR & Inventory revolver, with an Equipment T/L to a cutting-edge drilling tool technology company in the Oil & Gas industry. The Company, which is located in the Mountain West Region, was looking for a lending partner who could take a comprehensive approach to its business and offer a more flexible and competitive loan structure than what their current bank was able to provide.
“This client was looking for a lending partner that could structure a facility that would meet both its current and long-term domestic funding needs while also helping the Company to expand its operations in the Middle-East. The Company was very pleased with the level of customer service they received and the commitment that AFS has made to Mountain West region. The AFS team did an excellent job underwriting and closing a complex deal in an ever-changing oil and gas industry.” 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.