Austin Financial Services closed a $3 million asset-based lending credit facility comprised of an accounts receivable and inventory revolver to a third-generation food production and distribution company that serves hospitality brands.
The company was seeking to partner with a company in the industry to provide financing solutions that met its near-term seasonal demand and offer ongoing working capital support to achieve its long-term growth objectives. Proceeds from AFS’ revolver were used to refinance the company’s existing bank debt and for inventory purchases.
“As an industry leader, AFS is proud to help support another successful business with such a long and rich history,” Jason Anish, president and CE), said. “Our financing solutions are crafted with our customers in mind. We seek to provide lending options that help our customers optimize their businesses and continue to grow.”
