Austin Financial Services Closes a $2.5MM Credit Facility to a Privately-owned Life Sciences Company

June 17, 2024

Source: Austin Financial Services, Inc. (AFS)

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $2.5MM ABL facility to a life sciences company who operates in the field of cell and gene therapy used for research and development, clinical trials, and commercial production by academic, biotech, diagnostic, pharmaceutical, and contract research organizations. Proceeds from AFS’ revolver will provide working capital and support for long-term growth plans.

The company’s Founder & CEO commented on the alliance with AFS saying, “We are delighted that an institution of this caliber recognizes our mission and supports our growth through working capital. We want to propel the healthcare field into a successful and meaningful future, expanding treatment options, reducing costs, and broadening access for those who need it most.”
“AFS is proud to support businesses on the cutting edge of technology,” said Jason Anish, President and CEO.  He continued, “We are committed to providing clients with financing solutions that meet their long-term strategy and mission.”                                                                                                                                                                              
Headquartered in Los Angeles, Austin Financial Services (AFS) is a privately held, nationwide leader in asset-based lending, serving the middle-market sector for over 40 years. Specializing in alternative funding options, AFS provides support to small and medium-sized businesses that are experiencing growth or undergoing a turnaround. Clients typically have revenues ranging from $10MM to $250MM and have borrowing needs of up to $20MM. AFS's comprehensive portfolio includes flexible revolving lines of credit secured by accounts receivable and inventory, along with term loans secured by equipment.