Encina Business Credit provided a $20 million asset-based revolving credit facility to a processor and broker of scrap metals based in the Southern 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 refinance the borrower’s existing credit facility and to fund working capital.

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.