Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $5.5MM AR and Inventory revolver and M&E Term Loan to a tier 1 OEM supplier of plastic and metal components located in the Southeastern U.S. The Company had outgrown its line of credit and was to looking to maximize the value of its assets and improve its liquidity position. The Company chose to work with AFS due in large part to its solid reputation in the marketplace, product and industry knowledge, as well as its strong relationships with clients and industry professionals.
Proceeds from AFS’ revolver were used to pay off the Company’s existing line of credit, fund ongoing working capital needs, and provide new capital to support projects for long term growth.
Jason Anish, President & CEO said, “AFS takes a long-term approach with our customer relationships and have an aligned focus for their success. The Company was very pleased with our team’s ability to close the deal within the timeframe they needed.” He continued, “AFS prides itself on delivering competitive financing solutions to our customers and their sponsors.”
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.