Austin Financial Services (AFS) closed a $5 million AR only facility to an IT Services Company. Proceeds from AFS’ revolver were used to refinance the company’s existing bank facility and provide ongoing working capital for the company’s growth targets.
“Every business offers a new set of challenges and opportunities,” Jason Anish, president and CEO of AFS, said. “Our team did an excellent job to meet the client’s expectations and timeframe for closing.” he continued. “The client was on a tight deadline to pay off its existing lender and onboard several new clients. Our team was able to meet the company’s closing target date after completing a very thorough and efficient underwriting process.”
