AFS closes US$9m AR & inventory finance for online retailer

Austin Financial Services, Inc. (AFS) has announced the closing of a US$9m accounts receivable (AR) and inventory revolver facility for an innovative online retailer of consumer products. The facility was used to pay down higher-cost debt and is providing the company with the capital needed to introduce new product lines and increase inventory to support its aggressive growth strategy.

“The company has a very unique business model which proved challenging for other lenders to fully understand,” said Jason Anish, President and CEO of AFS. “Our team did an excellent job assessing the inherent risks and structuring a facility that effectively addressed them, enabling us to support the company’s ambitious expansion plans.”

About Austin Financial Services (AFS)
Headquartered in Los Angeles, Austin Financial Services (AFS) is a privately held, nationwide leader in asset-based lending, serving the lower-middle-market sector for over 40 years. Specialising in alternative financing solutions, AFS provides fast and flexible lines of credit to small and medium-sized businesses that are experiencing growth or undergoing a turnaround. Clients typically have revenues ranging from US$10m to US$250m and have borrowing needs of up to US$20m. AFS’s comprehensive portfolio includes flexible revolving lines of credit secured by accounts receivable and inventory, along with term loans secured by equipment.