Encina Provides $15MM Facility to Manufacturer of Engineered Products

Austin Capasso Press, Revolving Credit Line, Term Loan

Chicago, IL – February 27, 2020 – Encina Business Credit, LLC (EBC) announced today that it has provided a $15 million senior secured credit facility to a manufacturer of aluminum extrusions and highly engineered products. The credit facility consists of a revolving line of credit based on accounts receivable and inventory and a term loan based on machinery and equipment. The credit facility was used to refinance an existing line of credit and will provide ongoing working capital financing.

Launched in March 2016, EBC (www.encinabc.com) 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 $10–$100 million and secured by accounts receivable, inventory, machinery & equipment and real estate. The platform lends to both privately-owned 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.