Austin Financial Services Closes a $5M Credit Facility to a IT Services Company

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $5MM AR only facility to an IT Services Company. Proceeds from AFS’ revolver were used to refinance the Company’s existing bank facility and provide ongoing working capital for the Company’s growth targets.

“Every business offers a new set of challenges and opportunities,” said Jason Anish, President & CEO. “Our team did an excellent job to meet the client’s expectations and timeframe for closing.” he continued. “The client was on a tight deadline to pay off its existing lender and onboard several new clients. Our team was able to meet the Company’s closing target date after completing a very thorough and efficient underwriting process.”

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 40 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 $10MM to $250MM and borrowing needs of up to $20MM.

www.austinfinancial.com