Austin Financial Services completed a $10 million senior secured credit facility comprised of an accounts receivable/inventory revolver and an equipment term loan for a privately-owned national manufacturer of mattresses and bedsprings.

The company needed a new lending partner to provide a competitive and flexible line of credit to support its growth initiatives.

Austin structured a customized lending solution that addressed the company’s current and long-term working capital needs.

Jason Anish, Austin president and CEO, said “This was a complex deal due to the ownership structure and multiple inter-creditor and legal agreements that needed to be negotiated between the investors and AFS. Our team did a great job managing the process and keeping all parties focused on meeting the funding timeline established by the Company.”

Funds from the line of credit were used to pay off existing obligations and provide additional availability for general working capital needs and new business opportunities.