Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $15MM ABL facility, comprised of an AR and Inventory revolver to a Custom Poultry Processor & Distributor. The Company was seeking a lending partner who could provide greater flexibility than its current bank lender, while also understanding the unique challenges inherent to its business and their industry.
Proceeds from the loan were used to refinance the bank and will provide ongoing working capital support to meet the Company’s growth forecasts.
Jason Anish, President & CEO said, “AFS is committed to providing custom financing solutions in the marketplace that will allow owners and management to run their businesses effectively and execute their long-term growth strategies.” He continued, “As a year-end deal, timing was critical for this client, our team worked incredibly hard through the holidays which enabled the client to capitalize on favorable pricing in the marketplace and strategically purchase inventory.”
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.