Encina Business Credit, LLC (EBC) announced that Bond Harberts has been appointed Senior Managing Director & Head of Underwriting with responsibility for leading the firm’s underwriting function. Based out of EBC’s headquarters in Chicago, he will report to Marty Battaglia (CEO) and work closely with Tom Sullivan (Chief Risk Officer), who is responsible for managing the company’s fast-growing portfolio.

Harberts is a 25-year industry veteran who joins EBC from Fifth Third Bank, where he spent the past two years as a senior risk manager in the bank’s Asset-Based Lending Group. He previously spent 17 years at GE Capital, where he held a number of risk management roles with increasing levels of responsibility across various asset-based and cash flow lending businesses. Prior thereto, Harberts worked at Fremont Financial Corporation (which was eventually acquired by FINOVA Capital) and The CIT Group.

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 $10–100 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.