Encina Business Credit provided a $10 million senior secured revolving credit facility to a designer, marketer, and distributor of mid-priced and premium bicycles. The revolving line of credit, which is collateralized by accounts receivable and inventory, will provide financing of the company’s working capital and capex requirements.
Encina’s demonstrated track record, coupled with its flexible approach, provided the borrower’s management team and ownership the confidence that its business needs would be met.