Encina Business Credit, LLC announced today that is has provided a $38 million senior secured revolving credit facility with a $10.5 million term loan from Tiger Finance to Daytona Apparel Group. Daytona Apparel Group is a designer, manufacturer, and distributor of apparel, including socks, underwear, loungewear and sleepwear. The revolving line of credit, which is …
Encina Provides $80MM Revolving Credit Facility to a National Distributor
Encina Business Credit, LLC announced today that it has provided an $80 million senior secured revolving credit facility to a national distributor of media and consumer goods. The senior secured revolving line of credit, which is collateralized by accounts receivable and inventory, was used to refinance the borrower’s existing facility and provide ongoing working capital …
Encina Adds Garett Figueroa to its Business Development Team
Encina Business Credit announced today that Garett Figueroa joined its business development team as a Managing Director. Mr. Figueroa is an asset-based lending finance professional with over 9 years of business development and credit risk experience at bank lenders and non-bank private debt funds. Garett holds a BS in Business Administration & Management from the …
Encina Provides $10MM Revolving Credit Facility to Cycling Company
Encina Business Credit, LLC announced today that is has 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 …
Encina Promotes Tron Allen to Chief Commercial Officer
Encina Business Credit, LLC (EBC) announced today that it has promoted Tron Allen to Chief Commercial Officer. Mr. Allen most recently served as EBC’s Executive Managing Director and Central Region Leader. He joined the company in connection with its March 2016 launch as a Senior Managing Director focused on business development efforts in the Southwest Region. …
Encina Adds Barry Vecker to its Business Development Team
Encina Business Credit announced today that Barry Vecker joined its business development team as a Managing Director. Mr. Vecker is an asset-based lending finance professional with over 25 years’ experience in new deal originations, underwriting and portfolio management. He previously served in business development and risk roles at Wells Fargo, Congress Financial, Israel Discount Bank, …
Encina Closes $286 Million of New Business to Retail Companies in Last 12 Month
The challenges faced by traditional retailers and eCommerce companies, over the past year, have been extraordinary. In an effort to help retailers meet these hurdles, Encina Business Credit worked with many of them delivering on the value proposition for which we have become known, which is solution driven and liquidity focused. When Encina Business Credit …
Encina Provides $25MM Revolving Credit Facility to E-Commerce Retailer
Encina Business Credit, LLC announced today that is has provided a $25 million senior revolving credit facility to an e-commerce retailer. The senior secured revolving line of credit, which is collateralized by accounts receivable, and inventory, was used to provide working capital financing. In addition, the facility offers a $10 million accordion feature that allows …
Encina Provides $21MM Revolving Credit Facility to Retail Pharmacy Chain
Encina Business Credit, LLC announced today that it has provided a $21 million senior secured revolving credit facility to a regional retail pharmacy chain. The senior secured revolving line of credit, which is collateralized by accounts receivable, inventory, and prescription scripts was used to refinance the borrower’s existing facility and contains a committed accordion that …
Encina Provides $35MM Revolving Credit Facility to Retailer
Encina Business Credit, LLC announced today that it has provided a $35 million senior secured revolving credit facility to a retailer. The senior secured revolving line of credit, which is collateralized by accounts receivable and inventory, was used to refinance the borrower’s existing facility. Encina’s demonstrated track record in the retail industry, provided the borrower …