Austin Financial Services closed a $1.3 million revolving A/R and inventory facility to a private equity-owned technology manufacturing and engineering company.
The company’s ownership plans to expand the business by leveraging shared relationships from the common ownership of their portfolio companies. As the equity group looks to expand its ownership of companies in the consumer goods market, it called on Austin Financial Services.
“At AFS, we believe our success hinges on the robust relationships we maintain with our customers and lending partners,” Jason Anish, president and CEO of Austin Financial Services, said. “COVID-19’s impact on our economy has added another layer of complexity for many businesses. AFS is proud to be a reliable funding source to growing companies who need working capital support.”
Proceeds from the revolver were used to pay a vendor for new products, with additional funds to be used for ongoing working capital growth.
Headquartered in Los Angeles, Austin Financial Services is a privately held middle market lender that specializes in asset-based lending solutions, including revolving lines of credit and term loans secured by AR, inventory and equipment. Austin Financial Services provides these solutions for businesses with revenues from $5 million to $200million and borrowing needs of up to $20 million.
