Daily News: November 6, 2018

Encina Provides $10MM Credit Facility to Online Retailer

Encina Business Credit provided a $10 million senior secured credit facility to an online consumer products retailer.

The facility consists of a revolver secured by accounts receivable and inventory.

The proceeds were used to refinance the company’s existing senior credit facility and to provide working capital for growth.

Encina Business Credit is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada. The firm provides revolving lines of credit and term loans ranging in size from $5 million to $100 million and secured by accounts receivable, inventory, machinery & equipment and real estate.