Chicago, IL – February 13, 2017 – Encina Business Credit, LLC (EBC) announced today that it has provided a $15 million asset-based revolving credit facility to a manufacturer and service provider for the oil & gas industry that is based in the Southwestern U.S. The credit facility consists of a working capital revolver secured primarily by accounts receivable and inventory, the proceeds of which will be used to refinance existing indebtedness and provide working capital for growth.

Launched in March 2016, EBC is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada that cannot obtain required financing from traditional banks. The firm provides revolving lines of credit and term loans ranging in size from $5 – $50 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.