Siena Lending Group completed a revolving credit facility for Ambassador Education Solutions to refinance the company’s existing senior debt and maintain its working capital needs.

The additional capital will allow Ambassador to continue along its growth trajectory and support current and new client institutions that turn to Ambassador to power its course materials and content integration programs.

Headquartered in Melville, NY, Ambassador partners with colleges and universities to simplify the entire course materials adoption, management and delivery process. Ambassador’s proprietary technology, integrations and customizable bookstore and fulfillment service models connect students with textbooks, eBooks, digital resources, custom content, supplies, kits, devices and more, driving down costs and improving outcomes.

Stephen Fuscaldo, director of Siena, said, “Siena is pleased to provide a flexible asset-based facility for Ambassador which will allow its team to manage liquidity and provide for increased working capital assets as a result of the company’s growth. Ambassador provides a tremendous service to students, faculty and colleges and universities.”

Siena is an independent asset-based lender, offering asset-based loans from $2 million to $30 million.