Daily News: January 6, 2015

Siena Closes Term Loan for Paper Product Producer

Siena Lending Group announced the completion of a $6 million revolving and term loan facility for Lincoln Paper and Tissue. The facility was used to fund a capital expenditure project that was time sensitive and critical for the business as well as for working capital needs. The transaction closed within 30 days from the initial request.

Lincoln, ME-based Lincoln is the largest producer of deep-dyed tissue and a market leader in specialty white bonded tissue that is converted into napkins, party goods and specialty towels.

David Grende, president and CEO of Siena Lending Group, said, “We are very pleased that we were able to provide the financing in a timely fashion for Lincoln to execute on its capital expenditure project.” John Wissmann, CFO of Lincoln, said, “The people at Siena are very professional and are a pleasure to work with. They delivered on exactly what they proposed including closing the deal in 30 days.”