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Austin Financial Services Funds $2MM ABL for Security Services Company

November 21, 2016, 07:48 AM
Filed Under: Security Systems

Austin Financial Services, Inc. (AFS) recently funded a $2 million asset-based credit facility for a security services company. The client, who has multiple locations throughout the country, provides security services for a wide range of venues throughout North America. Funds generated from the AFS line of credit were used to pay off the existing bank line, provide additional availability for general working capital needs and support for the client’s seasonal growth plans.

“I’m thoroughly impressed with the speed and processing of the underwriting, and ultimately, the funding timeline of this deal,” said Jason Anish, AFS President & CEO.  “The bank was focused on having the client pay them off by months end and AFS was able to close this ABL facility well ahead of the banks schedule.” Anish goes on to say. “The timing and structure of our facility provided the company more availability to fund its expansion plans and take on additional staff to support their growth.”

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 and flexible lines of credit to small and medium sized businesses for over 34 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 turnaround or growth mode with revenues from $4 million to $75 million and borrowing needs under $10 million.

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