Austin Financial Services closed a $1.25 million ABL facility for a Midwest company which manufactures and assembles fuel injection systems to OEM’s and aftermarket dealers worldwide. The capital will be used to support ongoing operations and inventory purchases to help grow the company’s customer base.
The facility consists of an accounts receivables and inventory revolver and will provide improved availability and cash flow. The company plans to use proceeds from AFS’ credit line for special projects and for capital expenses to ensure long term business growth. Funds will be used for near term supplier payments as well.
Headquartered in Los Angeles, Austin Financial Services is a privately held middle-market lender which specializes in asset based lending solutions, includes revolving lines of credit and term loans secured by accounts receivable, inventory and equipment.
