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Austin Financial Services Funds $1.5MM ABL Facility for Recyclable Materials Company

November 29, 2016, 07:38 AM
Filed Under: Recycling

Austin Financial Services, Inc. (“AFS”) recently funded a $1.5 million AR only asset-based credit facility. The company markets all grades of wastepaper, plastics, cardboard, metal, woods, electronics and other recyclable materials to domestic customers who have overseas processing facilities and are looking to source raw materials from the U.S. The funds generated from AFS’s line of credit were used to pay off an existing bank line and will provide availability for general working capital needs as well as support the company’s near term growth plans.

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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