Austin Financial Services funded a $2 million ABL credit facility comprised of an AR revolver to an Los Angeles-based advisory company.

The company provides compliance and litigation consulting services to customers nationwide. It was looking to replace its existing bank line with a more flexible and competitive LOC that was customized with its current and long term business needs in mind. Funds from AFS’s line of credit were used to pay off existing bank obligations and provide additional availability for general working capital needs and new business opportunities.

“Our team did a great job to provide a thorough analysis of the transaction which enabled us to close the deal in a very fast time frame,” said Jason Anish, AFS’s president and CEO. “The client was looking to fund quickly to pay off its existing lender. AFS was able to help them meet this goal in under three weeks. This enabled the client to free up availability in its borrowing base to meet its immediate cash needs and project for near term growth.”

LA-based Austin Financial Services is a privately held middle-market lender which has 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.