Encina Business Credit provided a $21 million senior secured revolving credit facility to a regional retail pharmacy chain.
The senior secured revolving line of credit, which is collateralized by accounts receivable, inventory, and prescription scripts was used to refinance the borrower’s existing facility and contains a committed accordion that allows for future growth.
Encina’s demonstrated track record in the retail industry, coupled with its flexible approach, provided the borrower confidence that its business needs would be met.