Enablence ups EDC loan facility

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Canada-based Enablence Technologies Inc. has increased its senior secured loan facility with Export Development Canada (EDC) from C$3 million ($2.32 million) to C$5 million.

Funds will be used to provide additional working capital to fulfil customer orders in its growing optical subassembly business. The company has said that it expects to be drawing on the expanded facility in the near term.

The term loan has a tenor of 18 months, with the repayment of principal to commence 18 months after the first draw on the loan.

Enablence is a supplier of innovative integrated optical products for the aerospace, telecommunications, and bio-chemical sensing industries.