Daily News: May 1, 2018

Siena Closes $10MM Revolver for Shale Support Holdings


Siena Lending Group completed a three-year, $10 million revolving credit facility for Shale Support Holdings. The funding will be used to provide additional working capital and support the growth of Shale’s business after a recent plant expansion.

Charles Caswell, CFO of Shale, said, “We are excited to partner and look forward to growing our business with Siena’s support and commend them for their utmost professionalism and efficient closing process which made for a rapid close on this credit facility.”

“We are pleased to partner with Shale and their management team to support a company strategically positioned for consistent growth,” said Nick Payne, director of Siena Lending Group. “I’m proud that the Siena team was able to work quickly within the company’s specified timeline to close this credit facility and tailor it to management’s needs. We look forward to a long-term relationship with Shale.”

Headquartered in Picayune, MS, Shale provides Delta Pearl hydraulic fracturing sand, logistical solutions and in-basin storage capacity to the hydraulic fracturing sand market.