Austin Financial Services (AFS) closed a $12 million asset-based lending (ABL) facility. The financing solution, which was extended to a family office-owned manufacturer of yarns and textile floor coverings, includes an accounts receivable and inventory revolver, alongside a machinery and equipment term loan.
The proceeds from AFS’ facility were used to refinance the company’s existing bank line and to provide additional ongoing working capital, supporting the company’s growth objectives through a more flexible facility.
“Working with the management and ownership team was a genuine pleasure,” Jason Anish, president and CEO of Austin Financial Services, said. “Their clear vision and understanding of their business needs facilitated the seamless closing of the transaction. We are thrilled to be able to support their growth through this ABL facility.”
