Austin Financial Services closed a $5.5 million accounts receivable and inventory revolver and M&E term loan to a tier 1 OEM supplier of plastic and metal components located in the Southeastern U.S.
The company had outgrown its line of credit and was to looking to maximize the value of its assets and improve its liquidity position.
Proceeds from AFS’ revolver were used to pay off the company’s existing line of credit, fund ongoing working capital needs, and provide new capital to support projects for long term growth.
“AFS takes a long-term approach with our customer relationships and have an aligned focus for their success. The company was very pleased with our team’s ability to close the deal within the timeframe they needed,” said Jason Anish, president and CEO. “AFS prides itself on delivering competitive financing solutions to our customers and their sponsors.”