Austin Financial Services recently funded a $2.5 million ABL credit facility comprised of an A/R revolver and stretch piece to a regional delivery services company.

The company is based in Los Angeles and provides on demand, next day or shuttle delivery services to customers statewide.

The company replaced its existing factoring line with a more flexible and competitive ABL line of credit. Additionally, AFS provided a stretch piece that was customized with the company’s current and long-term business needs in mind. Funds from AFS’ line of credit were used to pay off existing factor obligations and provide additional availability for general working capital needs. Funds from the stretch piece were used to fund new business expansion.

Austin Financial Services 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 more than 35 years.