Encina Business Credit (EBC) provided a $30 million debtor-in-possession (DIP) facility to American Apparel (USA), a vertically-integrated manufacturer, distributor and retailer of branded fashion basic apparel products. The DIP financing, which has been approved by the United States Bankruptcy Court for the District of Delaware, will be used by American Apparel for working capital as the company operates under Chapter 11 of the U.S. Bankruptcy Code.

Launched in March 2016, EBC is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada that cannot obtain required financing from traditional banks.

Follow the story:
American Apparel Files Chapter 11, Seeks Approval of $30MM Encina DIP
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