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Austin Financial Services Funds $6MM ABL Facility for Industrial Paint Manufacturer

August 16, 2016, 07:48 AM
Filed Under: Manufacturing

Austin Financial Services, Inc. (AFS) recently funded a $6 million ABL credit facility comprised of an AR & Inventory revolver with an equipment term loan. The client, who has multiple locations throughout the country, is a manufacturer & distributor of industrial paint products. Funds generated from the AFS line of credit were used to pay off the existing bank line and provide additional availability for general working capital needs and support for the client’s immediate growth plans.

“Our team did an amazing job of meeting the client’s financing needs in a very short period of time. The client needed to fund within a four week period and Austin was able to close a complete ABL facility in just over three weeks.” Said Jason Anish, President & CEO. This allowed the client to meet the seasonal need of their new east coast expansion plant.

Headquartered in Los Angeles and with a nationwide lending focus, Austin Financial Services 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 34 years. Austin specializes in asset-based lending solutions which include: 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 $70 million and borrowing needs under $10 million.

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