Encina Business Credit, LLC announced today that it has provided a $21 million senior secured revolving credit facility to a regional retail pharmacy chain.
The senior secured revolving line of credit, which is collateralized by accounts receivable, inventory, and prescription scripts was used to refinance the borrower’s existing facility and contains a committed accordion that allows for future growth.
Encina’s demonstrated track record in the retail industry, coupled with its flexible approach, provided the borrower confidence that its business needs would be met.
Launched in 2016, EBC is one of the country’s leading 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.