Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3.6MM revolving A/R and inventory credit facility to a one-hundred twenty-year-old privately owned Fuel & Lubricant Distributor. The Company is operated by an experienced team of industry veterans who are focused on boosting sales volumes and improving operating efficiencies. Management understood that having a reliable financial partner is critical to ensuring the success of their business. Funds generated from the AFS line were used to payoff the existing bank loan and for growth capital.
Jason Anish, President & CEO said, “We are delighted to be a sought-after financial partner for U.S. small businesses.” He continued, “Following a turbulent year, which was plagued with market disruptions and volatility as a result of the COVID-19 pandemic, it is more critical than ever for businesses to have long-term and consistent access to capital.”
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.