Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $2.750M ABL facility to a Midwest based freight transportation company that provides freight management and brokerage services of fresh produce and refrigerated goods for customers nationwide. Proceeds from AFS’ revolver were used to pay off the Company’s existing bank line and provide new funds for working capital and to support business growth.
Jason Anish, President & CEO said, “We are delighted to be regarded as a valued funding source for creditworthy customers, who have a stronghold in their marketplace, and are seeking to replace their traditional bank financing with a more flexible and nimble financial partner.” He continued, “We differentiate ourselves by providing our clients with tailored financing solutions that meet their short and long-term needs.”
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.