Siena Lending Group completed a three-year, $4 million asset-based credit facility for a management and maintenance company. Prior to this particular refinancing, a community bank financed the company’s loan, which was serviced through Siena’s ABL Alliance platform.

The new facility will be used to refinance the company’s existing senior debt and provide additional working capital.

The Long Island, NY-based company provides facility management and maintenance services through an external network of trade service contractors. It focuses on organizations with multiple locations which can benefit from one point of contact for vendor selection, price negotiation, dispatch coordination and billing. Services provided include facility retrofits, carpentry, electrical, plumbing, remodeling, painting, landscaping and security.

“This is a great example of the benefits of our ABL Alliance program. We were able to transition the company from a bank’s balance sheet to our balance sheet in a seamless and efficient manner with a limited due diligence process,” said Scott Elliotto, director of Siena Lending Group. “We are very happy to provide this facility to the company and look forward to continuing our relationship.”