Chicago, IL July 15, 2020 – Encina Business Credit, LLC (EBC) announced today that it has provided a $25 million senior secured credit facility to a value-added master steel distributor and processor. The facility consists of a senior secured revolving line of credit based on accounts receivable and inventory, plus a senior secured term loan. …
Encina Provides $35MM Facility to a Leading Supplier and Distributor of Paint Supplies
Chicago, IL June 22, 2020 – Encina Business Credit, LLC (EBC) announced today that it has provided a $35 million senior secured credit facility to a leading retailer and distributor of paint and paint supplies. The facility consists of a senior secured revolving line of credit based on accounts receivable and inventory. Launched in 2016, …
Encina Business Credit Closes $180 million of New Business
Encina Business Credit closed five deals ranging in size between $15 million and $75 million in 1Q2020. Borrowers were both publicly traded and privately held, and included such industries as manufacturing, publishing, e-commerce, engineered products, and energy. As one of the country’s leading independent asset-based lending platforms, Encina’s success is a direct result of our …
Encina Announces the Closing of $75MM Facility with Horizon Global Corporation
Chicago, IL – March 16, 2020 – Encina Business Credit, LLC (“EBC”) announces the completion of a $75.0 million revolving credit facility for Horizon Global Corporation (“Horizon”). The facility will be used to replace an existing facility and will provide for ongoing working capital. Horizon (www.horizonglobal.com), headquartered in Plymouth, Michigan, USA, was founded in 2015 …
Tracy Salyers and John Whetstone Appointed as Co-Heads of Portfolio Management
Chicago, IL – March 9, 2020 – Encina Business Credit, LLC (EBC) announced today that Tracy Salyers and John Whetstone have been named Executive Vice Presidents and Co-Heads of Portfolio responsible for leading all facets of account and relationship management. Ms. Salyers brings over 25 years of experience in all facets of secured lending, including …
Encina Provides $15MM Facility to Leading Provider of Oilfield Services
Chicago, IL – March 4, 2020 – Encina Business Credit, LLC (EBC) announced today that it has provided a $15 million senior secured credit facility to a leading oilfield services pressure pumping company. The credit facility consists of a revolving line of credit based on accounts receivable. Loan proceeds will be used to pay down …
Encina Provides $15MM Facility to Manufacturer of Engineered Products
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 …
Encina Announces the Closing of a $25MM Credit Facility with etailz, Inc.
Encina Business Credit, LLC (“EBC”) announces the completion of a $25.0 million senior secured revolving credit facility for etailz, Inc. The facility will be used to refinance an existing facility and to support etailz ongoing working capital, capex, and general corporate requirements. etailz, Inc. (www.etailz.com), headquartered in Spokane, Washington, USA, was founded in 2008, has …
Encina Announces a $50MM New Money DIP Facility for the McClatchy Company
Encina Business Credit, LLC (“EBC”) announces the completion of a $50.0 million revolving credit facility for The McClatchy Company (“McClatchy”). The facility was used to refinance McClatchy’s pre-petition, asset-based revolver and support their working capital needs during bankruptcy. The facility is also structured to automatically convert to an exit financing upon meeting certain criteria. McClatchy …
Encina Provides $10MM Facility to a Leading Provider of Oilfield Equipment & Services
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 …