Siena Lending Group completed a $17.7 million revolving line of credit and term loan for Greenfiber. The facility was used to refinance Greenfiber’s existing senior debt and support the company’s working capital needs.
Based in Charlotte, NC Greenfiber is produces cellulose fiber insulation for multi-unit and single-family residences in the U.S. and Canada. The company’s products compete with other insulation products based on the merits of environmental friendliness and sustainability; greater energy efficiency and temperature regulation; and increased fire resistance. Greenfiber has six manufacturing facilities in the U.S. and Canada and employs approximately 225 people.
“Siena is very pleased to be able to provide the financing for Greenfiber. The total financing will afford Greenfiber more liquidity so they can focus on their growth strategy,” said Stephen Fuscaldo, director of Siena.