Encina Provides $7MM ABL Revolver to Specialized Printer

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Encina Business Credit, LLC (EBC) announced that it has provided a $7.0 million asset-based revolving credit facility to a specialized printing company based in the Northeastern U.S. The credit facility consists of a working capital revolver secured primarily by accounts receivable and inventory, the proceeds of which will be used to refinance the borrower’s existing credit …

Top 10 Asset-Based Finance News Stories of 2016

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Here is a list of the stories that sparked the most interest in the asset-based finance industry during a tumultuous 2016. Former Gibraltar CEO Launches Stonegate CapitalFormer Gibraltar Capital CEO Darren Latimer launched Stonegate Capital Holdings to provide $1 million to $10 million asset-backed loans to established lower middle market enterprises and emerging brands. Wells …

Bank of America, Wells Fargo, Encina to Provide $75MM ABL to Basic Energy Services

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Basic Energy Services, Inc. announced earlier this month that the Company and its affiliated chapter 11 debtors obtained court approval of their prepackaged restructuring and recapitalization plan (the “Prepackaged Plan”), which received near unanimous support from voting creditors.  The Company is expected to emerge from bankruptcy as early as today.According to the “Second Plan Supplement” …

Encina Provides $7.5MM ABL Revolver to Recreational Products Company

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Encina Business Credit, LLC (EBC) announced today that it has provided a $7.5 million asset-based revolving credit facility to a recreational products company based in the Midwestern U.S. The credit facility consists of a working capital revolver secured primarily by accounts receivable and inventory, the proceeds of which will be used to refinance the borrower’s …

Encina Provides $30MM DIP Facility to American Apparel

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Chicago, IL – Encina Business Credit, LLC (EBC) announced today that it has provided a $30 million Debtor-In-Possession (DIP) facility to American Apparel (USA) LLC, a vertically integrated manufacturer, distributor and retailer of branded fashion basic apparel products. The DIP financing, which has been approved by the United States Bankruptcy Court for the District of …

Encina Provides $31.5MM Credit Facility to Katy Industries

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Chicago, IL – November 16, 2016 – Encina Business Credit, LLC (EBC) announced today that it has provided a $31.5 million senior secured credit facility to Katy Industries, Inc. (Katy) and its wholly-owned subsidiary, Continental Commercial Products, LLC. The financing, which is comprised of a revolving line of credit and two term loans, will be …

Encina Provides $5MM Revolver to Animal Nutrition Firm

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Encina Business Credit provided a $5 million asset-based revolving credit facility to a provider of animal nutritional supplements based in the Southwestern U.S. The credit facility consists of a working capital revolver secured primarily by accounts receivable and inventory, the proceeds of which will be used to refinance the borrower’s existing credit facility and to …

Allied Alloys Wins New Lender’s First Finance Deal

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NEW YORK — Allied Alloys LP has landed a $20-million revolving credit facility from Encina Business Credit LLC, representing the newly formed lender’s first financing deal. “Because of the type of (credit) structure we put together working with Encina, (which) just entered the market, we have access to more working capital,” Ron Cayon, chief financial …