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Encina Business Credit Closes $35MM Secured Revolver for Oilfield Services Firm

April 26, 2019, 09:15 AM
Filed Under: Energy

Encina Business Credit, LLC (EBC) announced that it has provided a $35 million senior secured revolving credit facility to an oil field services company. The credit facility is based on accounts receivable, inventory, and machinery & equipment. The company specializes in abrasion resistant liner technology and will use the loan to refinance an existing facility.

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 $10–$100 million and secured by accounts receivable, inventory, machinery & equipment and real estate.

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