Siena Lending Group closed a $20 million credit facility for a supplier of healthier organic beverages to the food service industry that is also expanding into the retail sector. Siena’s financing is for a revolving line of credit, with a borrowing base on receivables and inventory, plus a stretch piece to refinance existing debt and provide additional liquidity to support the company’s growth.
“Siena’s financing will be critical to support our business as we look to continue growth in our food service business while expanding into the retail sector,” the company’s CEO said. “It was a pleasure to meet and work with Siena’s entire team which showed professionalism and creativity throughout the process to deliver on the proposed financing. We appreciate their trust in us and are excited to begin what we believe will be a long and mutually beneficial partnership going forward.”
Mark Orlando, managing director and Western region manager of Siena, added, “We are happy to complete this financing and support the company as it expands its customer reach and supply of healthier beverage products. Siena worked diligently to understand the business needs and structure a preferred financing solution for the company to take advantage of current market opportunities. We welcome them onboard at Siena and look forward to expanding the relationship as the company continues to grow.”
