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Eclipse Business Capital Provides $40MM Term Loan, Upsizes Revolver to $150MM for Steel Industry Customer

December 20, 2022, 07:37 AM
Filed Under: Steel

Eclipse Business Capital provided a $40 million M&E term loan facility to an existing customer in the steel industry. In conjunction with the term loan, EBC increased the company’s revolving credit facility by $25 million from $125 million to $150 million. The initial revolving credit facility transaction was closed in April of 2022.

The credit facilities are secured by accounts receivable, inventory, and machinery and equipment. The proceeds will be used to refinance an existing term loan facility and support the company’s reinvestment in its manufacturing plants.
Originally founded in 2016, EBC is one of the country’s leading independent asset-based lending platforms targeting both privately owned and publicly traded companies across a wide range of industries. The firm provides revolving lines of credit and term loans ranging in size from $10 – 200 million that are secured by collateral such as accounts receivable, inventory, equipment, or real estate.

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