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Encina Business Credit Upsizes ABL Revolver for Government Services Company

June 07, 2018, 07:12 AM
Filed Under: Industry News

Encina Business Credit, LLC (EBC) announced that it has upsized an existing asset-based revolving credit facility to a government services company from $25 million to $73.5 million. The increase in commitment amount coincides with the company closing a significant acquisition, and the expanded facility will be used primarily to provide working capital for continued

Launched in March 2016, EBC is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada. The firm provides revolving lines of credit and term loans ranging in size from $5– 100 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.

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