Encina Business Credit provided a $21 million senior secured revolving credit facility to a regional retail pharmacy chain.

The line of credit, collateralized by accounts receivable, inventory and prescription scripts, was used to refinance the borrower’s existing facility and also contains a committed accordion.

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.