Austin Financial Services (AFS), a company in asset-based lending since 1981, appointed Stacey Lykins as president. Lykins will lead the company’s asset-based lending strategy and oversee credit and underwriting, portfolio management and business development.
Lykins brings more than 30 years of financial services and operating experience to AFS. She began her asset-based lending career as a vice president and collateral examiner at Citibank, conducting field audits of borrowers nationwide. She went on to hold vice president roles in portfolio management and business development at Wells Fargo, Comerica Bank and Bank of America. In those roles, she managed revolving ABL portfolios for middle-market manufacturers, distributors and service companies, with responsibility for borrowing base administration, covenant monitoring, collateral oversight and credit risk.
Her experience also covers the borrower’s side of the lending relationship. As chief financial officer and chief operating officer of Sobel Westex, a $120 million commercial linen company financed through an asset-based line of credit, Lykins managed the company’s ABL facility. She oversaw borrowing base certificate preparation, directed accounts receivable and inventory control programs, and managed lender relationships and covenant compliance reporting. She has also founded and operated her own businesses, giving her firsthand insight into the challenges facing the companies AFS serves.
“Stacey began her ABL career in the field as a collateral examiner and went on to senior roles at four national banks,” Heather Plumski, president of Stearns Bank and interim CEO of Austin Financial Services, said. “She has also been the CFO filing the borrowing base certificate and managing the lender relationship. Few people in our industry have sat on both sides of the table. That perspective will strengthen how we structure facilities, manage our portfolio and work with the banks and advisors who refer clients to us.”
Lykins commented, “AFS has spent more than four decades providing flexible financing to lower-middle-market companies. I know what it means for a borrower to depend on availability under a line of credit, and how much a lender’s speed and judgment matter in those moments. My focus is on making clear, timely credit decisions, building facilities that fit how each business actually operates, and being a reliable partner to our borrowers and referral sources.”
Lykins holds an MBA from Keller Graduate School of Management and a bachelor’s degree in business administration from Pepperdine University. She is based in Phoenix.
