Encina Business Credit, LLC (EBC) announced today that it has provided a $15 million senior secured revolving credit facility to an oil field services company

Encina Business Credit, LLC (EBC) announced today that it has provided a $15 million senior secured revolving credit facility to an oil field services company. The credit facility consists of a revolving line of credit based on accounts receivable and inventory, and it will be used for anticipated growth of the company.

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 privatelyowned 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.