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Austin Financial Services Funds $5.25MM Food Manufacturing Company

May 06, 2016, 09:10 AM

Austin Financial Services, Inc. recently funded a $5.25 million asset-based loan credit facility comprised of an A/R and inventory revolver with a $1 million equipment term loan. The company is a private label food manufacturer, wholesaler and distributor of natural foods to grocery stores nationwide. Funds generated from the Austin line of credit were used to pay off the existing factoring company with excess availability for general working capital to support the company’s seasonal financing needs and future growth plans.

Headquartered in Los Angeles, Austin Financial Services is a privately held middle-market lender providing small- to medium-sized businesses alternative funding in the form of fast and flexible lines of credit for more than 34 years. Austin specializes in asset-based lending solutions for businesses nationwide in a turnaround or growth mode with borrowing needs from $500,000 to $6 million.

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