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May 17, 2017

Austin Financial New Brand and Website

March 1, 2017

Austin Financial Provides $1.5MM ABL to Equip Testing Firm

Austin Financial Services funded a $1.5MM ABL credit facility comprised of an AR & inventory revolver for an equipment testing company based in the Northwest U.S.

The client manufactures and distributes automobile electronic testing equipment and related products. Funds generated from the AFS line of credit were used to pay off the existing bank line, provide additional availability for general working capital needs and support the client's immediate growth plans.

April 4, 2017

Austin Financial Services Funds $2MM ABL Facility to a Mortgage Advisory Company

Austin Financial Services, Inc. (AFS) recently funded a $2MM ABL credit facility comprised of an AR revolver. The Company who operates as a mortgage advisory firm is based in Los Angeles, CA and provides compliance and litigation consulting services to customers nationwide. The Company was looking to replace its existing bank line with a more flexible and competitive LOC that was customized with their current and long term business needs in mind. Funds from AFS's line of credit were used to pay off existing bank obligations and provide additional availability for general working capital needs and new business opportunities.

"Our team did a great job to provide a thorough analysis of the transaction which enabled us to close the deal in a very fast time frame," said Jason Anish, AFS's president & CEO. "The client was looking to fund quickly to pay off its existing lender. AFS was able to help them meet this goal in under three weeks." he continued. "This enabled the client to free up availability in its borrowing base to meet its immediate cash needs and project for near term growth."

March 1, 2017

Austin Financial Provides $1.5MM ABL to Equip Testing Firm

Austin Financial Services funded a $1.5MM ABL credit facility comprised of an AR & inventory revolver for an equipment testing company based in the Northwest U.S.

The client manufactures and distributes automobile electronic testing equipment and related products. Funds generated from the AFS line of credit were used to pay off the existing bank line, provide additional availability for general working capital needs and support the client's immediate growth plans.

December 5, 2016

Austin Financial Services Funds $1.5MM ABL Facility for a Recyclable Materials Company

Austin Financial Services, Inc. (“AFS”) recently funded a $1.5MM AR only ABL credit facility. The Company markets all grades of wastepaper, plastics, cardboard, metal, woods, electronics and other recyclable materials to domestic customers who have overseas processing facilities and are looking to source raw materials from the U.S. The funds generated from AFS's line of credit were used to pay off an existing bank line and will provide availability for general working capital needs as well as support the Company's near term growth plans.

November 21, 2016

Austin Financial Services Funds $2MM ABL Facility for Security Services Company

Austin Financial Services, Inc. (AFS) recently funded a $2MM ABL credit facility for a Security Services Company. The client, who has multiple locations throughout the country, provides security services for a wide range of venues throughout North America. Funds generated from the AFS line of credit were used to pay off the existing bank line, provide additional availability for general working capital needs and support for the client's seasonal growth plans.

“I'm thoroughly impressed with the speed & processing of the underwriting, and ultimately, the funding timeline of this deal,” said Jason Anish, AFS President & CEO. “The bank was focused on having the client pay them off by months end and AFS was able to close this ABL facility well ahead of the banks schedule.” Mr. Anish goes on to say. “The timing and structure of our facility provided the company more availability to fund its expansion plans and take on additional staff to support their growth.”

August 16, 2016

Austin Financial Funds $6MM ABL Facility for Paint Manufacturer

Austin Financial Services funded a $6MM ABL credit facility comprised of an A/R and inventory revolver with an equipment term loan for an industrial paint manufacturer.

The client has multiple locations throughout the country. Funds generated from the line of credit were used to pay off the existing bank line and provide additional availability for general working capital needs and support for the client's immediate growth plans.

“Our team did an amazing job of meeting the client's financing needs in a very short period of time. The client needed to fund within a four week period and Austin was able to close a complete ABL facility in just over three weeks. This allowed the client to meet the seasonal needs of their new east coast expansion plant,” said Jason Anish, president and CEO.

July 18, 2016

Austin Financial Services Announces Two New Hires

Austin Financial announced two new hires in portfolio management and operations: Karla Gorgij and Eric Richardson.

Gorgij joins Austin Financial Services as Vice President, Relationship Manager in Loan Portfolio. Based in Los Angeles, Gorgij will be responsible for managing client relationships and underwriting new deals. In her previous role as a Relationship Manager at Wells Fargo Capital Finance, Gorgij worked with clients to come up with financing solutions to support their operations and create opportunities to achieve planned growth targets.

Richardson has joined as a Collateral Analyst. In this role, he will maintain and manage the daily relationship with our clients as well as the analysis of their day-to-day activities. Richardson brings with him the experience and knowledge he gained from his time as a loan administrator at his previous ABL employer.

Jason Anish, President & CEO, said, “We are extremely excited to have these two talented individuals join our team, as Austin Financial continues to grow we will be looking to add additional talent from all areas of the country to our already well rounded team.”

July 5, 2016

Austin Financial Services Funds $1.4MM ABL for Wheel & Tire Company

Austin Financial Services, Inc. recently funded a $1.4MM ABL credit facility comprised of an AR & Inventory revolver with a seasonal over-advance line to meet the company's inventory purchasing needs. The company is a manufacturer and distributor of aftermarket automotive tire and wheel accessories. Funds generated from the Austin line of credit were used to pay off the existing factoring company and excess availability for general working capital will be used to support the company's seasonal financing needs and future growth plans.

May 16, 2016

Austin Financial Funds Two ABL Deals Totaling $1.5MM

Austin Financial provided a $1MM AR revolver for a staffing and software implementation company and a $500k AR resolver for an exhibit design manufacturer.

When the incumbent bank wasn't able to increase the software implementation company's line of credit, Austin stepped in with a line secured by AR, creating the necessary availability to pay off the bank and support the company's growth objectives.

The deal with the manufacturer was bank referred. The client company was in the process of closing an expensive MCA line to support their working capital needs. Austin stepped in with an AR financing solution and closed within a two weeks to provide enough availability to satisfy the trade and keep this company on a positive growth path.

May 2, 2016

Austin Financial Funds $5.25MM ABL Facility for Food Manufacturer

Austin Financial Services funded a $5.25MM ABL credit facility comprised of an AR and inventory revolver with a $1MM equipment term loan.

The company is a private label food manufacturer, wholesaler and distributor of natural foods to grocery stores nationwide. Funds generated from the Austin line of credit were used to pay off the existing factoring company with excess availability for general working capital to support the company's seasonal financing needs and future growth plans.

April 19, 2016

Austin Financial Services, Inc. is pleased to announce the hiring of Tom Derenze as SVP and chief credit officer. In this role, he will be responsible for the day to day oversight and administration of the company's loan portfolio and operations.

Derenze has over 35 years of lending experience over a broad range of discipline in the ABL space, which includes credit, operations and sales.

“Growing our portfolio while maintaining high credit quality standards, particularly in the current market continues to be a priority for Austin” said Jason Anish, president & CEO of Austin Financial. “Tom is a welcome addition to our management team, as he has significant experience growing assets and managing credit quality in the ABL space”.

Prior to joining Austin Financial Services, Inc., Derenze held the position of COO of Summit Financial Resources in Salt Lake City and regional manager of Business Alliance Capital Corp. in Los Angeles.