Siena Lending Group completed a three-year $4.5 million asset-based revolving credit facility for Amstek Metal.

Amstek Metal will use the credit facility to refinance its existing senior debt and to provide more working capital. Amstek is a multi-location steel service center based in Joliet, IL that provides engineered wire and strip products to metal stampers, spring makers and fabricators in the Midwest and East Coast.

“Amstek’s long history of top notch quality and service in the specialty steel marketplace is exactly the kind of company that Siena is proud to partner with,” said Siena Lending Group SVP Nick Payne. “We worked closely with Charles and his leadership team, as well as the incumbent bank, to provide a flexible solution that will allow the company to continue growing without traditional capital restrictions.”

Charles Stevens, CEO of Amstek said, “Siena Lending Group’s experience with flexible financial solutions while supporting traditional banking has provided Amstek Metal with the opportunity to accelerate both short and long term growth strategies. Siena’s focused customer service has our management team excited about the future with our new partner”.

Siena Lending Group provides asset-based loans between $2 million and $30 million to small and middle market companies in the U.S.