Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3MM senior secured credit facility comprised of an AR and Inventory revolver to a southwest based developer & manufacturer of specialty chemical compounds used in oil & gas drilling and road construction. Proceeds of the facility were used to refinance the company’s existing senior debt, provide support for existing working capital needs and free up additional capital for the business’ long-term growth.
Jason Anish, President & CEO said, “AFS provides the flexibility and customized finance services our customers need and count on us to provide.” He continued, “We are pleased to provide a working capital facility that will help the company maximize its liquidity as they look to achieve future 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.