Encina Business Credit, LLC (EBC) announced it has provided a $20 million asset-based revolving credit facility to Heritage Travelware, Ltd. Based in Elgin, Ill., Heritage is a designer and distributor in the business case, luggage and travel goods industry.
The credit facility consists of a revolver secured by accounts receivable and inventory, the proceeds of which are being used to refinance the company’s existing senior secured asset-based credit facility and to provide for working capital.