Austin Financial Services closed a $15 million asset-based lending facility, comprised of an accounts receivable and inventory revolver, to a custom poultry processor and distributor. The company was seeking a lending partner who could provide greater flexibility than its current bank lender while also understanding the unique challenges inherent to its business and industry. The company used proceeds from the loan to refinance the bank and to provide ongoing working capital support to meet the company’s growth forecasts.
“AFS is committed to providing custom financing solutions in the marketplace that will allow owners and management to run their businesses effectively and execute their long-term growth strategies.” Jason Anish, president and CEO of Austin Financial Services, said. “As a year-end deal, timing was critical for this client, our team worked incredibly hard through the holidays which enabled the client to capitalize on favorable pricing in the marketplace and strategically purchase inventory.”
