Daily News: January 23, 2019

Austin Funds $1.5MM ABL Facility for Restaurant Equipment Importer


Austin Financial Services recently funded a $1.5 million ABL credit facility for an importer/wholesale distributor of restaurant equipment and furniture. The facility is comprised of an accounts receivable revolver with an inventory sub-line.

Based in the Western region, the company was looking for a lending partner who took a broad, integrated approach to its business and offered a more flexible and competitive loan structure.

Austin structured the facility to allow the company to maintain its advantage in sourcing, warehousing and distributing to better service its clientele, while also meeting ongoing general working capital needs and supporting new business opportunities.

“This client was looking for a strategic lending partner with an ability to structure a facility that would meet both its current and long-term funding needs while closing in a fast timeframe. Our team did an exceptional job on closing this deal in less than 3 weeks and exceeding the customer’s expectations,” said Jason Anish, Austin president and CEO.

Founded over 35 years ago and headquartered in Los Angeles, Austin Financial Services is a privately held middle-market lender which provides alternative funding credit to small and medium-sized businesses.