Siena Lending Group, a provider of asset-based lending solutions, closed a new senior secured credit facility for HandsFree Labs/Kizik Design, an innovator of hands-free footwear. The customized credit facility will provide Kizik with increased liquidity and financial flexibility to support its rapid growth, continued product innovation and expanding market presence.
“Siena was a great fit for our financing needs,” Gareth Hosford, CEO of Kizik, said. “Their team understood our business and delivered a financing solution that aligned with our goals. The process was very efficient and completed in a little over a month.”
“We’re pleased to support Kizik at this exciting stage in its growth,” Bridget Anderson, senior vice president at Siena Lending Group, said. “The Company is disrupting the footwear industry with their hands-free technology and product innovations that resonate among a broad range of consumers. Through the design of the facility and Siena’s ability to act quickly, the Company will continue to capitalize on the current momentum and execute on their strategic initiatives. We also appreciated the opportunity to work alongside Livingstone on another well-executed transaction.”
“The Siena team spent significant time upfront understanding the business, which enabled them to structure a facility that provided Kizik with the liquidity needed to execute their growth plan,” Tom Lesch, partner at Livingstone Partners, said.
