Austin Financial Services Provides a $1.3MM Revolving Facility to a Privately owned Hosiery & Sock Manufacturer

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $1.3MM revolving A/R and inventory facility to a 25+ year-old privately-owned hosiery and sock manufacturer. The Company was looking to grow by continuing to expand its customer base and sought a more flexible lender to replace its restrictive lending facility. Proceeds from AFS’ revolver were used to pay off the Company’s existing factoring line and provide new funds to support business growth.  

Jason Anish, President & CEO said, “small businesses have faced an economic and existential crisis during the COVID-19 pandemic.” He continued, “AFS is proud to continue providing much needed capital support to those essential businesses, who are the backbone of the economy.”                                                                                                     

Headquartered in Los Angeles and with a nationwide lending focus, Austin Financial Services (AFS) is a privately held middle-market lender who’s been providing alternative funding in the form of fast & flexible lines of credit to small and medium sized businesses for over 35 years. Austin specializes in asset-based lending solutions which includes; revolving lines of credit and term loans secured by AR, inventory, and equipment for businesses in a growth or turnaround mode with revenues from $5MM to $200MM and borrowing needs of up to $20MM.

www.austinfinancial.com