Austin Financial Services funded a $3.1 million senior secured credit facility for a vineyard that specializes in the production and distribution of bulk wine. The facility is comprised of an accounts receivable and inventory revolver with a term loan secured by machinery and equipment.
The Southwest-based company had needed a lender whose financing solutions were designed with its specific business in mind.
“Our team took a disciplined approach to understand the risks and opportunities that are inherent to the customer and its industry,” said Jason Anish, Austin president and CEO. “As a result, we were able to structure a facility that maximizes the company’s collateral assets to create additional borrowing availability while also providing greater flexibility in the form of a single working capital facility.”
Funds from the facility were used to pay off senior bank debt, support new business initiatives and for general working capital.