Chicago, IL November 13, 2020 – Encina Business Credit, LLC announced today that it is the Revolving Agent on a $115 million senior secured credit facility used to support the acquisition of a mid-sized discount retailer of home décor.
The revolving line of credit, which is collateralized by accounts receivable and inventory was used to support the purchase price and ongoing working capital needs of the borrower.
Encina’s expedient and flexible approach, coupled with its industry expertise in retail finance, provided the borrower and their new equity holder’s confidence to meet a tight timeline.
Launched in 2016, EBC is one of the country’s top independent asset-based lending platforms that provides financing to middle-market borrowers in the U.S. and Canada. The firm provides revolving lines of credit and term loans ranging in size from $10 – $125 million that are secured by collateral such as accounts receivable, inventory, equipment or real estate. Encina lends to both privately-owned and publicly traded companies across a range of industries including manufacturing, retail, automotive, oil & gas, services, distribution and consumer products.
If you would like more information about Encina or have any questions regarding the firm’s role in this transaction, please contact our Chief Commercial Officer, Rob McMahon at rmcmahon@encinaBC.com