Austin Financial Services funded a $3 million ABL credit facility comprised of accounts receivable to a corporate event planning company located in the Pacific Northwest. The company was seeking to replace its current factoring facility with an ABL structure which will provide better working capital support and offer more flexibility for future growth plans.

AFS designed a structure for the company including a revolver facility that will be used for ongoing working capital support and a seasonal stretch capability to cover capital shortfalls during the seasonally slow periods. After using the funds from AFS’ line of credit to pay off the existing factoring facility, the company will have excess availability under the line to meet other near-term obligations.

Headquartered in Los Angeles and with a nationwide lending focus, Austin Financial Services (AFS) is a privately held middle-market lender that been providing alternative funding in the form of fast and flexible lines of credit to small- and medium-sized businesses or over 35 years.