Austin Financial Services, Inc. (AFS) recently funded a $1.5MM ABL credit facility comprised of an AR & Inventory Revolver to a Promotional Products Supplier. The Company, which is located in the Pacific Northwest, was looking to partner with a lender that could address its quick funding timeframe in order to meet payment obligations to key suppliers in Asia before Chinese New Year. AFS surpassed the customer’s expectations by funding ahead of its timeline and had a few days to spare. The management team was very impressed with AFS’s professionalism & efficiency and expressed their excitement to be working with the AFS team as their new lending partner.
AFS structured a facility that allows the Company to pay off its existing bank line and generate extra availability needed to meet its foreign suppliers’ payment terms, while providing ongoing general working capital support. The new AFS facility provides the Company with more flexibility & availability under its loan structure at competitive rates.
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.