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Austin Financial Services Funds $1.4MM ABL for Wheel & Tire Company

July 05, 2016, 07:46 AM
Filed Under: Manufacturing

Austin Financial Services, Inc. recently funded a $1.4 million ABL credit facility comprised of an AR & Inventory revolver with a seasonal over-advance line to meet the company’s inventory purchasing needs. The company is a manufacturer and distributor of aftermarket automotive tire and wheel accessories. Funds generated from the Austin line of credit were used to pay off the existing factoring company and excess availability for general working capital will be used 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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