Austin Financial Services Provides $1.5MM ABL to Oil & Gas Billing Services Company

Austin Financial Services funded a $1.5 million asset-based lending credit facility comprised of an accounts receivable revolver to a billing services company based in the Southeast that provides services for the oil and gas exploration and production industry.

The company wanted to replace its existing bank line with a more flexible and competitive line of credit. The company used funds from Austin Financial Services’ line of credit to pay off existing bank obligations and to provide additional availability for general working capital needs.