Encina Business Credit provided a $10 million senior secured revolving credit facility to a designer, marketer and distributor of mid-priced and premium bicycles.
The revolving line of credit, which is collateralized by accounts receivable and inventory, will provide financing for the company’s working capital and capex requirements.
Launched in 2016, Encina Business Credit is an independent asset-based lending platform providing financing to 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 125 million and secured by collateral such as accounts receivable, inventory, equipment and/or real estate.
