Austin Financial Services funded a $6 million ABL credit facility comprised of an A/R and inventory revolver with an equipment term loan for an industrial paint manufacturer.

The client has multiple locations throughout the country. Funds generated from the line of credit were used to pay off the existing bank line and provide additional availability for general working capital needs and support for the client’s immediate growth plans.

“Our team did an amazing job of meeting the client’s financing needs in a very short period of time. The client needed to fund within a four week period and Austin was able to close a complete ABL facility in just over three weeks. This allowed the client to meet the seasonal needs of their new east coast expansion plant,” said Jason Anish, president and CEO.

Los Angeles-based Austin Financial Services is a privately held middle-market lender.