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Encina Business Credit Names Banning to Lead Originations in Michigan, Ohio

April 19, 2018, 07:24 AM
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Encina Business Credit, LLC (EBC) announced that Brian Banning has been appointed Senior Managing Director of Originations with responsibility for leading new business development activity in Michigan and Ohio. Banning, who is based out of the company’s new office in Troy (MI), is a 25-year industry veteran who has previously worked at Chemical Business Credit (formerly known as Talmer Business Credit), FirstMerit Bank, Citizens Bank, GMAC Commercial Finance and CIT Business Credit. Most recently, Banning served as Senior Managing Director at both Chemical Business Credit and Talmer Business Credit, where he led the ABL groups for Chemical Bank and Talmer Bank, respectively.

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.

 




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