Chicago, IL September 18, 2020 – Encina Business Credit, LLC (EBC) announced today that it has provided a $50 million senior secured credit facility to a news publishing company. The facility consists of a senior secured revolving line of credit based on accounts receivable and inventory. Loan proceeds will be used to support a purchase of the company following a period of bankruptcy.
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.