Daily News: July 31, 2019

Encina Provides $45MM Facility to Hydroponic Products Supplier

Encina Business Credit has provided a $45 million senior secured credit facility to a supplier of indoor gardening and hydroponic products.

The facility consists of a revolving line of credit based on accounts receivable and inventory. Loan proceeds were used to refinance an existing facility, and to meet the working capital required to effectuate its plan.