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Austin Financial Services Provides $6.3MM for Revolving and Term Loan Credit Facilities to a Meal Production Company with National Presence
February 12, 2020
Source: Austin Financial Services, Inc.
Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $6.3MM AR and Inventory revolver with M&E and Capex Term Loans to a company who provides meal production & delivery service to hospitals, skilled nursing homes, long-term care facilities and catering companies throughout the country. The Company, who is focused on accelerating its growth trajectory, was looking to tap its short & long-term assets to maximize and improve its liquidity position.
Proceeds from AFS’ revolver were used to pay off the Company’s existing bank line, fund ongoing working capital needs, and provide new capital to support the Company’s expansion strategy.
Jason Anish, President & CEO said, “Our ability to provide effective financing solutions that meet our clients’ needs is at the core of our reputation in the marketplace.” He continued, “One of our primary drivers is to provide clients with long-term financing solutions that enable them to execute operational and financial strategies and improve their business.”
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