FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

Encina Business Credit Provides $30MM Credit Facility to Transportation Services Firm

Date: Jan 08, 2019 @ 07:06 AM
Filed Under: Transportation

Encina Business Credit, LLC (EBC) announced that it has provided a $30 million senior secured credit facility to a transportation services company. The financing, which is comprised of a revolving line of credit, will be used to repay existing senior debt and provide working capital for growth.

Launched in March 2016, EBC is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada. The firm provides revolving lines of credit and term loans ranging in size from $5–100 million and secured by accounts receivable, inventory, machinery & equipment and real estate. The platform lends to both privately-owned (sponsor and non-sponsor) and publicly-traded companies across a wide range of industries, including manufacturing, retail, automotive, oil & gas, services, distribution and consumer products. Borrowers use loan proceeds to fund working capital, acquisitions, refinancings, growth, restructurings/turnarounds, debtor-in-possession (DIP)/exit financings and other special situations. Positive cash flow is not a requirement.

 

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.