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Austin Financial Services Provides a $3MM Revolving Credit Facility to a Telecommunications Company
November 12, 2019
Source: Austin Financial Services, Inc. (AFS)
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.”
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.
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