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Encina Business Credit Provides $25MM Secured Credit Facility to Steel Distributor

July 20, 2020, 08:55 AM
Filed Under: Steel

Encina Business Credit, LLC (EBC) announced that it has provided a $25 million senior secured credit facility to a value-added master steel distributor and processor. The facility consists of a senior secured revolving line of credit based on accounts receivable and inventory, plus a senior secured term loan.

Launched in 2016, EBC is one of the country’s top independent asset-based lending platforms that provides financing to 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 collateral such as accounts receivable, inventory, equipment or real estate.

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