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


Encina Business Credit Provides $65MM Credit Facility to Oilfield Services Firm

September 18, 2019, 08:55 AM
Filed Under: Oil & Gas

Encina Business Credit, LLC (EBC) announced that it has provided a $65 million senior secured credit facility to an oilfield services company. This facility consists of a revolving line of credit based on accounts receivable. The loan proceeds will be used to refinance an existing facility and to support working capital. 

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 that are secured by accounts receivable, inventory, machinery & equipment and real estate. The platform lends to both privately-owned 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.