Encina Business Credit, LLC (EBC) announced that it has provided a $12 million senior secured credit facility to a distributor of specialty steel products based in the southern U.S. The financing, which is comprised of a revolving line of credit and a term loan, will be used to refinance certain of the company’s existing indebtedness and to provide working capital for growth.
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.