Austin Financial Services (AFS) funded a $3 million ABL credit facility comprised of an accounts receivable and inventory revolver to a distributor of tobacco products and related general merchandise.
The company, which is located on the West Coast, was looking to partner with a lender that understood both the opportunities and risks inherent to its business while offering more flexibility under its loan structure at competitive rates.
AFS structured a facility that would allow the company to service its core clientele while meeting its ongoing general working capital needs. Funds from the AFS line of credit were used to pay off the company’s existing bank financing obligations and support new business opportunities.
Headquartered in Los Angeles with a nationwide lending focus, Austin Financial Services (AFS) is a privately held middle-market lender that has been providing alternative funding in the form of fast and flexible lines of credit to small and medium sized businesses for more than 35 years.