Austin Financial Services closed a $3 million ABL credit facility for a telecommunications company that specializes in the design, component procurement, installation, and training for specialized IT electronics systems.
The company needed a lending partner with a strong ABL discipline who took a macro approach to the unique challenges and opportunities of its business.
Proceeds from AFS’ revolver were used to pay off the company’s existing bank line, fund ongoing working capital needs, and provide new capital in support of management’s long-term growth plans.
“The restrictions instituted by the existing bank lender were hampering the company’s growth potential,” said Jason Anish, president and CEO.
“At AFS, our approach is to understand the nuances of our client’s business and structure a loan that both improves the company’s liquidity position and aligns with their long-term growth strategy.”
