Encina Business Credit Closes $305 Million of New Business in 3rd Quarter

In early 3rd quarter as much of the country was planning it’s next steps after reopening, Encina Business Credit (EBC) was hard at work helping deliver to our customers, prospects and their financial advisors something they told us they valued greatly in turbulent times – asset based financing that is fast, flexible and certain.

Whether it was the $70 million deal that we underwrote and documented in three weeks to quickly provide a borrower’s new equity group with flexible, covenant-free financing or the $25 million transaction that helped another meet a rapidly approaching 1031 tax free exchange deadline, our customers repeatedly shared with us how much they valued our speed, flexibility and pragmatism.

As a result, EBC is pleased to announce that it closed six new deals totaling $305 million – our highest quarterly volume total since inception.  Deal sizes ranged from $12.5 million to $75 million, and borrowers spanned a number of industries that included manufacturing, steel processing, marketing services, news publishing, milk distribution, and government services.

Since Encina is non-regulated, we are able to accommodate many situations that traditional lenders cannot. For example, positive cash flow and traditional covenant parameters are not required.

Headquartered in Chicago, with offices across the United States, EBC provides revolving lines of credit and term loans ranging in size from $10 – $100 million which are secured by accounts receivable, inventory, machinery & equipment and real estate.

Our borrowers use loan proceeds to address a variety of objectives, including seasonal working capital, acquisitions, refinancing, growth, turnarounds, debtor-in-possession financing, plan of reorganization financing, and other special situations.

If your company or one of your client’s is looking for a lender that acts with urgency and flexibility, while providing a high degree of certainty, please contact us to discuss how we might help.