Chicago, IL December 30, 2019 – Encina Business Credit, LLC (EBC) announced today that it has provided a $10 million senior secured credit facility to a leading provider of oilfield equipment and services. The facility consists of a revolving line of credit based on accounts receivable. Loan proceeds will be used to replace an existing revolver and to provide working capital and growth financing.
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 $10-100 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.