Daily News: December 4, 2014

Siena Closes Organic Holdings Credit Facility

Siena Lending Group announced the completion of a three-year, $5 million senior secured revolving credit facility for Organic Holdings. The facility was used to refinance Organic’s existing credit facility and will be used for working capital needs as Organic continues on its strong path of growth.

Boca Raton, FL-based Organic is an emerging leader in the development and sale of science-based, natural nutritional supplements, vitamins, and healthy weight management products. Organic is the leader in the resveratrol and collagen supplement categories under the Reserveage and ResVitale brand names.

David Grende, president and CEO of Siena Lending Group, said, “We are pleased to be able to provide Organic with the capital that they will need in order to continue to execute on their growth plans.” Naomi Whittel, Majority Owner and the CEO of Organic, said, “We are very pleased to have a partner in Siena to help us achieve our growth goals. Siena understands our industry and was able to put together a financing package that fits our needs.”