Eclipse Business Capital LLC (EBC), formerly known as Encina Business Credit, announced it has provided a $45 million senior secured revolving credit facility to a coal mining company based in the U.S. and Canada.

The credit facility is secured by accounts receivable and will be used to refinance an existing facility and to support ongoing working capital and maintenance CAPEX.

EBC’s demonstrated track record of executing quickly, coupled with its flexible approach, provided the borrower confidence that its business needs would be met.

Originally founded in 2016, EBC is one of the country’s leading independent asset-based lending platforms targeting both privately owned and publicly traded companies across a wide range of industries. The firm provides revolving lines of credit and term loans ranging in size from $10 million – $150 million that are secured by collateral such as accounts receivable, inventory, equipment or real estate.

Since it was established, EBC has underwritten more than 76 transactions totaling over $2.0 billion in aggregate credit facilities. EBC has an experienced team of 48 professionals, located in Chicago, Boston, New York, Connecticut, Los Angeles, San Francisco, Houston, Charlotte and Fort Lauderdale and provides financing to middle-market borrowers in the U.S. and Canada.