Daily News: March 5, 2019

Encina Provides $42MM Facility to Consumer Products Company

Encina Business Credit provided a $42 million senior secured credit facility to a consumer products company.

The credit facility consists of a revolving line of credit and two term loans.

The proceeds will be used to refinance existing debt and fund 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 $10 million to $100 million and secured by accounts receivable, inventory, machinery & equipment and real estate.