Austin Financial Services, Inc. Announces $10 Million ABL Facility for Foodservice Equipment Manufacturer & Distributor of Commercial Kitchen Equipment

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $10MM ABL facility, comprised of an AR and Inventory revolver to an industry leading foodservice equipment manufacturer & distributor of commercial kitchen equipment. The Company was seeking a lending partner who could provide greater flexibility and more availability than its current bank lender, while also understanding the unique challenges inherent to its business and their industry.

Proceeds from the loan were used to refinance the bank and will provide ongoing working capital support to meet the Company’s current sales pipeline and growth opportunities.

Jason Anish, President & CEO said, “AFS remains committed to providing flexible custom financing solutions in the marketplace that will allow owners and managers to run their businesses effectively and execute their long-term growth strategies.” He continued, “As a complex deal with multiple 3^rd party issues that took some time to navigate, the company and our team worked incredibly hard through the underwriting process to achieve a favorable outcome that will help the company have better access to working capital, take on new customers and effectively manage its vendor obligations.”

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