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Encina Business Credit Provides $45MM to Garden Supply Firm

July 30, 2019, 08:50 AM
Filed Under: Industry News

Encina Business Credit, LLC (EBC) announced that it has provided a $45 million senior secured credit facility to a supplier of indoor gardening and hydroponic products. The facility consists of a revolving line of credit based on accounts receivable and inventory.

Loan proceeds were used to refinance an existing facility, and to meet the working capital required to effectuate its plan.

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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