Austin Financial Services funded a $1.5 million ABL credit facility, comprised of an A/R and inventory revolver, for a promotional products supplier.
The company, which is located in the Pacific Northwest, was looking to partner with a lender that could address its quick funding timeframe in order to meet payment obligations to key suppliers in Asia before Chinese New Year. AFS closed the funding well ahead of its timeline.
The facility will allow the company to pay off its existing bank line and generate extra availability needed to meet its foreign suppliers’ payment terms, while providing ongoing general working capital support. The AFS facility also provides the company with more flexibility and availability under its loan structure at competitive rates.