Austin Financial Services closes a $3MM Credit Facility to a Chocolate Manufacturer

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3MM ABL facility, which included an AR and Inventory revolver along with an M&E term loan, to a contract and private label manufacturer of chocolate confectionary products.  Proceeds from AFS’ revolver were used to refinance the Company’s existing bank facility and to provide ongoing working capital for the Company’s growth objectives.   

“When this over 140 year old company was asked by their bank to find a new lending relationship, the team at AFS was able to meet and exceed the client’s expectations with their new credit facility” said Jason Anish, President & CEO. “The new AFS facility successfully provided the company with the availability it needed to pay off their bank and provide them with additional working capital, all while meeting the bank’s exit timeline.”

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