Austin Financial Services funded a $1.5 million A/R only ABL credit facility for a recyclable materials company.

The company markets all grades of waste paper, plastics, cardboard, metal, woods, electronics and other recyclable materials to domestic customers that have overseas processing facilities and are looking to source raw materials from the U.S.

The funds generated from AFS’s line of credit were used to pay off an existing bank line and will support the company’s general working capital needs and near term growth plans.

Los Angeles-based Austin Financial Services is a privately held middle-market lender providing alternative funding in the form of lines of credit to small- and medium-sized businesses for more than 34 years.