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Austin Financial Services Provides a $5.5MM Revolver and Term Loan Credit Facility to a Tier 1 OEM Supplier of Plastic and Metal Components
November 25, 2019
Source: Austin Financial Services, Inc.
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.
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.