Encina Business Credit provided a $25 million senior revolving credit facility to an e-commerce retailer.
The senior secured revolving line of credit, which is collateralized by accounts receivable, and inventory, was used to provide working capital financing. In addition, the facility offers a $10 million accordion feature that allows for future growth.
Encina’s demonstrated track record in the e-commerce industry, coupled with its flexible approach, provided the borrower’s management team and ownership the confidence that its business needs would be met.