Austin Financial Services, Inc. Closes $3.4MM ABL Facility for Analytical Lab and Safety Compliance Testing Company
November 12, 2024
Source: Austin Financial Services, Inc.
Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3.4MM asset-based lending (ABL) facility comprised of an AR revolver and equipment term loan to an analytical lab and safety compliance testing company servicing the food & beverage, vitamin, and botanical manufacturing industries.
The Company was seeking to refinance its existing debt stack and needed a trusted lending partner to provide flexible financing options to support their growth plans. Proceeds from AFS’ facility were used to eliminate the company’s MCA loans, refinance the existing bank term debt, and will provide ongoing working capital support.
Jason Anish, President & CEO said, “AFS’ financing solutions enable our clients to run their businesses efficiently and effectively.” He continued, “Our service & product offering are integral to businesses as they seek to make informed decisions on optimizing their financing to successfully execute their objectives and grow their business.”
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.