Austin Financial Services (AFS) closed a $3 million ABL facility, which included an AR and Inventory revolver along with an M&E term loan, to a contract and private label manufacturer of chocolate confectionary products. Proceeds from AFS’ revolver were used to refinance the company’s existing bank facility and to provide ongoing working capital for the company’s growth objectives.
“When this over 140-year-old company was asked by their bank to find a new lending relationship, the team at AFS was able to meet and exceed the client’s expectations with their new credit facility” Jason Anish, president and CEO at AFS, said. “The new AFS facility successfully provided the company with the availability it needed to pay off their bank and provide them with additional working capital, all while meeting the bank’s exit timeline.”
