Daily News: January 30, 2017

Encina Business Credit Provides $25MM Revolver to Repair Company

Encina Business Credit provided a $25 million asset-based revolving credit facility to an electronic device repair company based in the Midwestern U.S.

The credit facility consists of a working capital revolver secured primarily by accounts receivable and inventory, the proceeds of which will be used to fund working capital associated with the borrower’s continued growth

Launched in March 2016, Chicago-based 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.