Encina Business Credit provided a $70 million senior secured revolving credit facility to a national processor and distributor of branded and private label milk.
The revolver was provided to help finance the acquisition of the company and to provide ongoing working capital financing. The facility consists of a senior secured revolving line of credit based on accounts receivable and inventory.
Launched in 2016, Encina Business Credit is an independent asset-based lending platform that provides financing to middle-market borrowers in the U.S. and Canada.
