Siena Lending Group completed an $11.75 million secured credit facility comprised of a senior secured asset-based revolving line of credit and term loans for Nilco Enterprises and Dial Lubricants. The facilities will be used to support the companies’ working capital needs and continued growth.
Dial, founded in 1996 and based in Dallas, is a distributor of branded oils, lubricants, greases and fuels. Dial represents products from top suppliers such as Citgo, Total, Phillips 66, Dow and Calumet. Dial’s warehouses and distribution network provides customers with on-time deliveries in Texas, New Mexico, Arkansas, and Oklahoma. The company also offers recycling services of used oil and filters through its Nilco Environmental Services division.
“Siena encouraged us and found solutions through any issues. Everyone showed patience when needed,” said Eric Nilsson, CEO of Dial. “I am very pleased with Siena’s customer service along with all of the supporting staff on both sides. We are excited for the future and the partnership with Siena Lending Group.”
