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ENCINA BUSINESS CREDIT PROVIDES $30 MILLION

ENCINA BUSINESS CREDIT PROVIDES $30 MILLION CREDIT FACILITY TO VERTEX ENERGY Chicago, IL – February 8, 2017 – Encina Business Credit, LLC (EBC) announced today that it has provided a $30 million senior secured credit facility to Vertex Energy, Inc. (Vertex). The financing, which is comprised of a revolving line of credit, a funded term loan

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Encina Business Credit Provides $25MM ABL Facility to Electronic Device Repair Co.

Encina Business Credit, LLC (EBC) announced that it has provided a $25 million asset-based revolving credit facility to an electronic device repair company based in the Midwestern 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 fund working capital associated

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Top 10 Asset-Based Finance News Stories of 2016

Here is a list of the stories that sparked the most interest in the asset-based finance industry during a tumultuous 2016. 1. Former Gibraltar CEO Launches Stonegate Capital Former Gibraltar Capital CEO Darren Latimer launched Stonegate Capital Holdings to provide $1 million to $10 million asset-backed loans to established lower middle market enterprises and emerging

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BANK OF AMERICA, WELLS FARGO, ENCINA BUSINESS CREDIT TO PROVIDE $75MM ABL TO BASIC ENERGY SERVICES

Basic Energy Services, Inc. announced earlier this month that the Company and its affiliated chapter 11 debtors obtained court approval of their prepackaged restructuring and recapitalization plan (the “Prepackaged Plan”), which received near unanimous support from voting creditors.  The Company is expected to emerge from bankruptcy as early as today. According to the “Second Plan

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ENCINA BUSINESS CREDIT PROVIDES $7.5 MILLION ASSET-BASED REVOLVER TO RECREATIONAL PRODUCTS COMPANY

Encina Business Credit, LLC (EBC) announced today that it has provided a $7.5 million asset-based revolving credit facility to a recreational products company based in the Midwestern 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 the borrower’s

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ENCINA BUSINESS CREDIT PROVIDES $30 MILLION DEBTOR-IN-POSSESSION FACILITY TO AMERICAN APPAREL

Chicago, IL – Encina Business Credit, LLC (EBC) announced today that it has provided a $30 million Debtor-In-Possession (DIP) facility to American Apparel (USA) LLC, a vertically integrated manufacturer, distributor and retailer of branded fashion basic apparel products. The DIP financing, which has been approved by the United States Bankruptcy Court for the District of

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Encina Provides $5MM Revolver to Animal Nutrition Firm

Encina Business Credit provided a $5 million asset-based revolving credit facility to a provider of animal nutritional supplements 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 the borrower’s existing credit facility and to

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Encina Business Credit Launches Retail Finance Vertical, Hires Kearny to Lead

Encina Business Credit, LLC (EBC) announced Bill Kearney has joined the company as Senior Managing Director to lead its expansion into retail finance on a national basis. Kearney will be targeting retailers across a wide range of market segments that cannot obtain financing from traditional banks. EBC provides borrowers in the retail industry with senior

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