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Austin Financial Services Closed a $5MM ABL Credit Facility to a PE-owned Telecommunications Company
December 20, 2023
Source: Austin Financial Services, Inc. (AFS)
Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $5MM ABL facility to a provider of communications and VoIP solutions to large enterprise businesses. Proceeds from AFS’ revolver were used to refinance the bank facility, with additional availability to support increased demand from existing customers, and to meet the Company’s long-term growth targets.
“Our strong partnerships with PE owned businesses and strong management teams continue to be one of the driving forces of our business. We delivered on our promise to execute a successful refinancing of the customer’s existing credit facility and provided new capital that will help them to continue to grow their business.” said Jason Anish, President and CEO.
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.
