Encina Provides Senior Secured Credit Facility to Steel Company

admin Press, Revolving Credit Line, Term Loan

Chicago, IL – September 13, 2018 – Encina Business Credit, LLC (EBC) announced today that it has provided a senior secured credit facility to Associated Steel Group, LLC and its subsidiaries.  The financing, which is comprised of a revolving line of credit and two term loans, will be used primarily to refinance the company’s existing senior credit facility and to provide working capital for growth.

Based in Oklahoma City, Associated Steel is a fully-integrated manufacturer of pre-engineered metal buildings and related components, specializing in the construction of complex metal structures used for office and retail buildings, manufacturing plants, churches, schools, agricultural buildings, aircraft hangers and other purposes.

About Encina Business Credit

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. 

source: Industry News via ABF Journal