Austin Financial Services, Inc. (AFS) Closes $3MM ABL to Food Production and Distribution Company
December 16, 2024
Source: Austin Financial Services, Inc. (AFS)
Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3MM asset-based lending (ABL) credit facility comprised of an accounts receivable and inventory revolver to a 3rd generation food production and distribution company that serves some of the country’s leading hospitality brands.
The company was seeking to partner with a leader in the industry to provide financing solutions that met its near-term seasonal demand and offer ongoing working capital support to achieve its long-term growth objectives. Proceeds from AFS’ revolver were used to refinance the company’s existing bank debt and for inventory purchases.
Jason Anish, President & CEO stated, “As an industry leader, AFS is proud to help support another successful business with such a long and rich history.” He continued, “Our financing solutions are crafted with our customers in mind. We seek to provide lending options that help our customers optimize their businesses and continue to grow.”
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.