Encina Business Credit provided a $40 million senior secured revolving credit facility to a food packaging company.
The senior secured revolving line of credit, which is collateralized by accounts receivable and inventory, was used to refinance the borrower’s existing bank facility.
Encina arranged to bring in another lender to provide an incremental $15 million term loan.
Launched in 2016, Encina Business Credit is an independent asset-based lending platform that provides financing to middle market borrowers in the U.S. and Canada.
