Austin Financial Services (AFS) closed a $3.4 million asset-based lending (ABL) facility comprised of an AR revolver and equipment term loan to an analytical lab and safety compliance testing company servicing the food and beverage, vitamin and botanical manufacturing industries.
The company was seeking to refinance its existing debt stack and needed a trusted lending partner to provide flexible financing options to support its growth plans. Proceeds from AFS’ facility were used to eliminate the company’s MCA loans, refinance the existing bank term debt and will provide ongoing working capital support.
“AFS’ financing solutions enable our clients to run their businesses efficiently and effectively,” Jason Anish, president and CEO of AFS, said. “Our service and product offering are integral to businesses as they seek to make informed decisions on optimizing their financing to successfully execute their objectives and grow their business.”
