Encina Business Credit provided a $25 million asset-based revolving credit facility to an electronic device repair company.
The credit facility consisted of a working capital revolver secured primarily by accounts receivable and inventory, the proceeds of which are being used to fund working capital for growth.
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.
