Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $1.3MM revolving A/R and inventory facility to a private equity owned Technology Manufacturing and Engineering Company.
The Company’s ownership plans to grow and expand the business by leveraging shared relationships from the common ownership of their portfolio companies. As the equity group looks to expand its ownership of companies in the consumer goods market, they once again called on AFS – a tried and tested lending partner with a proven track record of providing customized and flexible financing solutions.
Jason Anish, President & CEO said, “At AFS, we believe our success hinges on the robust relationships we maintain with our customers and lending partners.” He continued, “Covid-19’s impact on our economy has added another layer of complexity for many businesses; AFS is proud to be a reliable funding source to growing companies who need working capital support.”
Proceeds from AFS’ revolver were used to pay a critical vendor for new products with additional funds to be used for ongoing working capital growth.
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.