Encina Business Credit, LLC (“EBC”) announces the completion of a $25.0 million senior secured revolving credit facility for etailz, Inc. The facility will be used to refinance an existing facility and to support etailz ongoing working capital, capex, and general corporate requirements.
etailz, Inc. (www.etailz.com), headquartered in Spokane, Washington, USA, was founded in 2008, has 200 employees, is led by CEO Kunal Chopra, and is a subsidiary of Trans World Entertainment Corp. etailz operates as an online growth platform for brands interested in rapidly scaling business growth on the Amazon, Walmart, eBay marketplaces and beyond. The company has $800M+ in marketplace sales and 4,000+ brand partnerships.
Etailz CEO, Kunal Chopra, said “EBC’s tremendous foresight and support will enable etailz to grow its e-commerce growth platform of proprietary technology, agency services and retail partnerships and to quickly move toward its vision to become the ultimate e-commerce marketplace growth partner. etailz is honored to have EBC in our corner as etailz continues fortifying its product and service offerings.”
“As consumers continue to move their shopping online and onto e-commerce marketplaces, such as Amazon and Walmart, brands wanting to quickly grow their online sales must have an e-commerce marketplace strategy,” said EBC CEO Marty Battaglia. “etailz has an unparalleled depth and breadth of knowledge and success leading brands through marketplace growth that we can get behind.”
About Encina Business Credit:
March 2016, Encina Business Credit is a Chicago-based, independent asset-based
lending platform targeting borrowers in the U.S. and Canada that look to obtain
financing away from traditional banks. 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 (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.