Daily News: January 9, 2019

Encina Provides $30MM Revolving LoC to Transportation Company

Encina Business Credit provided a $30 million senior secured credit facility to a transportation services company.

The financing, which is comprised of a revolving line of credit, will be used to repay existing senior debt and provide working capital for growth.

Launched in March 2016, Encina 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 and equipment and real estate.