Encina Provides $17MM Loan to Manufacturer

admin Press, Revolving Credit Line, Term Loan

Chicago, IL – January 10, 2019 – Encina Business Credit, LLC (EBC) announced today that it has provided a $17 million senior secured credit facility to a manufacturer of heavy-duty chassis for specialized vehicles. The financing, which is comprised of a revolving line of credit and two term loans, will be used to fund a private equity sponsor’s acquisition of the company and to provide working capital for growth.

Launched in March 2016, EBC is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada. The firm provides revolving lines of credit and term loans ranging in size from $5 – $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.