Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3MM ABL credit facility to a telecommunications company who specializes in the design, component procurement, installation, and training for specialized IT electronics systems servicing end-user markets in the western U.S. The Company needed a lending partner with a strong ABL discipline who took a macro approach to the unique challenges and opportunities of its business.
Proceeds from AFS’ revolver were used to pay off the Company’s existing bank line, fund ongoing working capital needs, and provide new capital in support of management’s long-term growth plans.
Jason Anish, President & CEO said, “The restrictions instituted by the existing bank lender were hampering the Company’s growth potential.” He continued, “At AFS, our approach is to understand the nuances of our client’s business and structure a loan that both improves the Company’s liquidity position and aligns with their long-term growth strategy.”
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.