Daily News: November 29, 2018

Austin Financial Funds $2MM ABL Facility for Transport Company

Austin Financial Services funded a $2 million ABL facility for an oil and gas industry transportation services company.

The facility was structured as a multi-year deal with the potential for future line increases.

The company was opposed to traditional factoring structures or covenant heavy bank lines and instead sought out Austin Financial to provide the flexible credit facility it needed.

The CEO of the company stated, “The attractiveness of working with AFS was a combination of their depth of talent and experience, a deal free of financial covenants and other controls that we typically see in the ABL industry. It was a perfect match for our business.”

AFS structured a competitive revolving line of credit using the company’s accounts receivable assets. With adequate access to working capital, the company can better service its core clients, fund payroll and overall operational needs, add customers and support growth.