Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $1.5MM revolving A/R and inventory facility to a manufacturer of precision machine components for the aerospace and defense industries. Proceeds from AFS’ revolver were used to provide funds for working capital support and growth.
Jason Anish, President & CEO said, “We are proud to continue our support of viable small businesses, especially while we navigate through the current Covid-19 economy.” He continued, “sharing our wealth of knowledge and providing essential lending support is more critical than ever to ensure our Customer’s long-term success.”
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.