Daily News: April 17, 2019

Austin Financial Closes $5MM Revolver for Manufacturer


Austin Financial Services completed a $5 million senior secured credit facility, comprised of an A/R and inventory revolver, for a manufacturer of specialty trucking equipment and accessories located in the Midwest.

The company was seeking a seasoned and knowledgeable lending partner to identify how it can best utilize the assets of its business to maximize cash flows long-term.

AFS structured a facility that will allow the company to better service its clientele and maintain its advantage in sourcing, warehousing, and distributing. Funds from the line of credit will be used for ongoing general working capital needs and to support growth initiatives of the business.

Jason Anish, AFS president and CEO, said, “We are pleased to provide a long-term financing solution to another customer in the Midwest region. We anticipate further expansion of our nationwide footprint and this transaction enables us to respond quickly to the needs of the customer base in the region while enhancing our market presence.”