Austin Financial Services closed a $3 million senior secured credit facility comprised of an A/R and inventory revolver with an M&E T/L to a manufacturer and seller of rotational molded plastic products.
The company had outgrown its existing bank line and was seeking a long-term lending partner to support both the existing needs of its business and future growth strategies.
AFS’ revolving facility enabled the company to maximize its asset value and access up to $2 million of additional working capital, which was used to pay off the existing bank facility, provide funding for general working capital needs, and to fund new business opportunities.
“We are delighted to provide another client with a customized financing solution to help bridge the gap between funding ongoing operations and the financing needed to achieve the Company’s future growth targets,” said Jason Anish, president & CEO.
