Encina Lender Finance Provides $50 Million Senior Credit Facility To Crossroads Financial

Atlanta, GA – January 19, 2022 – Encina Lender Finance, LLC (“ELF”) announced today that it has provided a $50 million senior credit facility with an accordion feature for an incremental $50 million in potential capacity to Crossroads Financial LLC (“Crossroads”), the industry-leading provider of inventory only revolving credit facilities in the below $10 million size range to companies nationwide and the preferred partner to factoring companies and accounts receivable lenders. ELF’s credit facility closed simultaneously with a mezzanine debt facility from a different lender.

Based in South Florida and building on its 15+ year lending history, Crossroads has been an innovative disruptor in an underserved industry that had primarily catered to companies seeking inventory loans over $10 million. Recognizing the needs of the SMB market, Crossroads has become the premier lender in the fast-growing market for inventory loans in the below $10 million size range. Furthermore, Crossroads was the first inventory lender to recognize the needs of the factoring and accounts receivable finance community by creating inventory-only programs that supplement their facilities, providing increased availability to clients that they might otherwise lose.

“Working with Encina was an easy choice for us,” said Lee Haskin, Founder and CEO of Crossroads. “This relationship gives us the ability to offer more competitive rates and quicker turnaround. Further, the team at Encina understands our product and the specialization required to manage and service our portfolio.”

“Encina Lender Finance is pleased that the Crossroads team has trusted us to help them expand their already successful platform,” stated John Thomas, President and Chief Risk Officer at ELF. “Crossroads has an exceptional track record and reputation in providing inventory solutions to businesses that do not qualify for traditional bank financing, and we look forward to working with Lee Haskin and his team to continue scaling their business.”

About Encina Lender Finance

Headquartered in Atlanta, ELF offers revolving lines of credit and term loans ranging in size from $10 to $150 million to specialty finance companies (sponsored and non-sponsored) across a wide range of asset classes including, but not limited to, asset-based lending, factoring, equipment leasing, floorplan financing, commercial real estate bridge lending, tax lien/deed financing, venture debt lending, SMB lending & merchant cash advance, middle-market private credit, charged-off debt buyers, rent-to-own consumer leasing, unsecured consumer lending and specialized student lending. ELF’s customers use financing proceeds primarily to fund the origination of new finance contracts and to refinance existing debt, and ELF’s loans are secured by portfolios of notes, loans and/or leases. For additional information, please visit ELF’s website at https://lenderfinance.encinacapital.com.

About Crossroads Financial LLC

Headquartered in South Florida and founded in 2006, Crossroads is a pioneer and national market leader in providing standalone inventory-only secured revolving lines of credit to middle market businesses in the B-to-B, retail and e-commerce sectors. The company is the preferred partner to factoring companies and accounts receivable lenders seeking to provide borrowers with a more comprehensive solution that maximizes liquidity. Crossroads funds transactions up to $10 million with an advance rate of up to 85% of NOLV with no restrictions on A/R-to-inventory advance ratios. For more information, please visit the Crossroads Financial website at https://crossroadsfinancial.com.