ENCINA BUSINESS CREDIT PROVIDES $12 MILLION CREDIT FACILITY TO DISTRIBUTOR OF SPECIALTY STEEL PRODUCTS

Chicago, IL – September 18, 2017 – Encina Business Credit, LLC (EBC) announced today that it has provided a $12 million senior secured credit facility to a distributor of specialty steel products based in the southern U.S. The financing, which is comprised of a revolving line of credit and a term loan, will be used to refinance certain of the company’s existing indebtedness and to provide working capital for growth.

Launched in March 2016, EBC is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada that cannot obtain required financing from traditional banks. The firm provides revolving lines of credit and term loans ranging in size from $5 – $50 million and secured by accounts receivable, inventory, machinery & equipment and real estate. The platform lends to both privately-owned (sponsor and non-sponsor) and publicly-traded companies across a wide range of industries, including manufacturing, retail, automotive, oil & gas, services, distribution and consumer products. Borrowers use loan proceeds to fund working capital, acquisitions, refinancings, growth, restructurings/turnarounds, debtor-in-possession (DIP)/exit financings and other special situations. Positive cash flow is not a requirement.