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Encina EF, Encina Business Credit Provide $35MM Credit Facility

October 18, 2018, 07:20 AM

Encina Equipment Finance and Encina Business Credit jointly announced they have provided a $35 million senior secured credit facility to a medium- and long-haul trucking company. The financing, which is comprised of a revolving line of credit, a term loan and a delayed-draw capital expenditure line, is being used primarily to refinance existing debt and to provide additional capital for growth.

Launched in June 2017, Encina Equipment Finance provides loans and leases ranging in size from $5 million to $50 million and secured by essential-use machinery and equipment. The platform provides financing to both privately owned (sponsor and non-sponsor) and publicly traded companies across a wide range of collateral types, industries (including, but not limited to, construction, distribution, energy, food processing, health care, information technology, manufacturing, mining, paper & packaging, and transportation) and use cases (including loans against existing or newly acquired assets, leases of newly acquired assets and sale-leasebacks of existing assets).

Encina Business Credit, launched in March 2016, 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 $5 million to $100 million and secured by accounts receivable, inventory, machinery & equipment and real estate.

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