Daily News: May 13, 2013

Siena Lending Closes $6MM Revolver for Christmas by Krebs

Siena Lending Group announced the completion of a two-year $6 million senior secured revolving credit facility for Christmas by Krebs Corporation. The facility will be used to support the company’s seasonal working capital requirements and growth plans. In addition, the facility also includes an accordion option that can be exercised by the company to increase the line size.

Dallas, TX-based Christmas by Krebs manufactures glass and shatterproof glass Christmas ornaments from its manufacturing facilities in Roswell, NM, and Juarez, Mexico.

David Grende, president and CEO of Siena Lending Group, said, “We are pleased to provide a creative financial solution that will assist the company through their seasonal needs and growth objectives. We look forward to working with the company as they execute their business plan.”

Siena Lending Group is an independent commercial finance company offering asset-based loans between $1 million and $20 million to small and middle-market businesses across the United States.