- Encina Business Credit Provides $75 Million Revolving Credit Facility to Leading Global Provider of Government & Business Services
- Platinum Equity Portfolio Company Orbit Irrigation Acquires Bond Manufacturing's Garden Business
- BMO Harris Launches $5 Billion Program to help Black and Latino Businesses and Communities, With ‘Significant’ Investment in Chicago
- Electrovaya Closes Credit Facility Agreement to Finance Customer Purchase Orders
- B&G Foods Announces Closing of $450.0 Million Term Loan B Facility
Encina Business Credit Provides $45 Million Facility to a Supplier of Hydroponic Products
July 30, 2019
Source: Encina Business Credit
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. 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.
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