Austin Financial Services closed a $1.5 million revolving A/R and inventory facility for a manufacturer of precision machine components for the aerospace and defense industries. Proceeds from the revolver were used to provide funds for working capital support and growth.
“We are proud to continue our support of viable small businesses, especially while we navigate through the current COVID-19 economy,” Jason Anish, president and CEO of Austin Financial Services, said. “Sharing our wealth of knowledge and providing essential lending support is more critical than ever to ensure our customer’s long-term success.”
Headquartered in Los Angeles, Austin Financial Services is a privately held middle-market lender. The company specializes in asset-based lending solutions, including revolving lines of credit and term loans secured by accounts receivable, inventory and equipment for businesses in growth or turnaround mode with revenues from $5 million to $200 million and borrowing needs of up to $20 million.
