Chicago, IL December 3, 2019 – Encina Business Credit, LLC (EBC) announced today that it has provided a $30 million senior secured credit facility to a company that produces coal for blast-furnace steel production. The facility consists of a revolving line of credit based on accounts receivable and inventory. Loan proceeds will be used to provide a dividend and to support working capital, capex, and other corporate requirements.
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.