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Austin Financial Services Provides a $1.3MM Revolving Facility to a Private Equity Owned Technology Manufacturing and Engineering Company
December 14, 2020
Source: Austin Financial Services, Inc.
Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $1.3MM revolving A/R and inventory facility to a private equity owned Technology Manufacturing and Engineering Company.
The Company’s ownership plans to grow and expand the business by leveraging shared relationships from the common ownership of their portfolio companies. As the equity group looks to expand its ownership of companies in the consumer goods market, they once again called on AFS - a tried and tested lending partner with a proven track record of providing customized and flexible financing solutions.
Jason Anish, President & CEO said, “At AFS, we believe our success hinges on the robust relationships we maintain with our customers and lending partners.” He continued, “Covid-19’s impact on our economy has added another layer of complexity for many businesses; AFS is proud to be a reliable funding source to growing companies who need working capital support.”
Proceeds from AFS’ revolver were used to pay a critical vendor for new products with additional funds to be used for ongoing working capital growth. 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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