Encina Business Credit provided a $31.5 million senior secured credit facility to Katy Industries and its wholly-owned subsidiary, Continental Commercial Products.

The financing, which is comprised of a revolving line of credit and two term loans, will be used to refinance the company’s existing senior credit facility and to provide working capital for growth. Based in St. Louis, Katy is a manufacturer, importer and distributor of commercial cleaning and consumer storage products.

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.