FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Encina Business Credit Provides $31.5MM Credit Facility to Katy Industries

November 17, 2016, 07:29 AM
Filed Under: Manufacturing

Encina Business Credit, LLC (EBC) announced 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 used to refinance the company’s existing senior credit facility and to provide working capital for growth. Based in St. Louis, Katy is a leading manufacturer, importer and distributor of commercial cleaning and consumer storage products.

Launched in March 2016, EBC is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada that cannot obtain required financing from traditional banks. The firm provides revolving lines of credit and term loans ranging in size from $5 million to $50 million and secured by accounts receivable, inventory, machinery & equipment and real estate. The platform lends to both privately-owned (sponsor and non-sponsor) and publicly-traded companies across a wide range of industries, including manufacturing, retail, automotive, oil & gas, services, distribution and consumer products. Borrowers use loan proceeds to fund working capital, acquisitions, refinancings, growth, restructurings/turnarounds, debtor-in-possession (DIP)/exit financings and other special situations. Positive cash flow is not a requirement.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.