Encina Business Credit provided a $35 million senior secured revolving credit facility to an oil field services company which specializes in abrasion resistant liner technology.
The credit facility is based on accounts receivable, inventory, and machinery & equipment.
The company will use the loan to refinance an existing facility.
Launched in March 2016, 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 $10 million to 100 million and secured by accounts receivable, inventory, machinery & equipment and real estate. The platform lends to both privately-owned and publicly-traded companies across a wide range of industries.