Daily News: January 10, 2019

Encina Provides $17MM Secured Facility to Chassis Manufacturer

Encina Business Credit provided a $17 million senior secured credit facility to a manufacturer of heavy-duty chassis for specialized vehicles.

The financing is comprised of a revolving line of credit and two term loans.

The company will use the facility to fund a private equity sponsor’s acquisition of the company and to provide working capital for growth.

Launched in March 2016, EBC 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.