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

Print

Encina Business Credit Provides $15MM Facility to Manufacturer of Highly Engineered Products

February 27, 2020, 09:10 AM
Filed Under: Industry News


Encina Business Credit, LLC (EBC) announced it has provided a $15 million senior secured credit facility to a manufacturer of aluminum extrusions and highly engineered products. The credit facility consists of a revolving line of credit based on accounts receivable and inventory and a term loan based on machinery and equipment. The credit facility was used to refinance an existing line of credit and will provide ongoing working capital financing.

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 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.