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NewStar Business Credit Provides $25MM Revolver to Afni, Inc

December 04, 2014, 07:28 AM
Filed Under: Telecom

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc, announced that it has provided a $25 million revolving line of credit to Afni, Inc. (“Afni”).  Headquartered in Bloomington, IL, Afni provides outsourced process solutions focused on sales and collections activities through contact centers and digital channels.  They specialize in providing outsourcing solutions to the communications, insurance and healthcare sectors.  The secured credit facility will be used to support the company’s ongoing working capital needs.

Steven Czirjak, Afni’s CFO, commented on the transaction: "As we searched for a new capital partner, NewStar Business Credit’s understanding of our industry stood out.  This allowed for them to provide a flexible solution that supports our expansion into international markets as well as a solid structure for our day-to-day working capital management needs.”

“We are pleased to partner with Afni and look forward to supporting their expansion,” stated Milton Iskra, National Marketing Manager for NewStar Business Credit.

Mike Williams, a Senior Vice President located in NewStar’s Chicago office, originated the transaction.

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle market companies with credit requirements between $5 million and $25 million.  Deal structures are flexible and tailored to meet each client’s unique needs.  Funds can be used for a wide range of purposes, including strategic acquisitions, management buyouts, recapitalization and refinancing, as well as, to support internal growth strategies.

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