Daily News: September 28, 2016

Siena Lending Provides $7MM Armada Skis ABL Facility


Siena Lending Group closed a $7 million credit facility for Armada Skis to refinance its existing senior debt and to support working capital needs.

Park City, UT-based Armada designs, develops, sells and distributes its branded ski equipment and apparel throughout the U.S., Canada, Europe and Asia.

Stephen Fuscaldo, director of Siena, said, “We are pleased to provide a flexible asset-based facility to Armada that helps them through their seasonal needs and the revenue growth that they anticipate. We are excited to be their lender as the brand continues to grow.”

Erik Snyder, CEO of Armada said, “We are very pleased to have the Siena Lending Group as our financial lender and partner. The Siena team demonstrated a high level of professionalism and were instrumental in incorporating the right lending structure for the company. They are a pleasure to work with and have a very dedicated team.”