Siena Lending Group completed two deals for an aggregate amount of $25 million in Q2/20, while Siena Healthcare Finance delivered two deals for an aggregate amount of $20 million in the quarter.
The two deals from Siena Lending Group were for companies in the pharmaceutical and beauty industries based in Georgia and New York.
“In the second quarter, we worked hard to ensure our clients could access PPP funds while also closing new deals and growing our pipeline. We promoted Jim Persico to director of risk and portfolio management and welcomed Ernie Abati to the underwriting team as a senior vice president. Moving into the second half of 2020, we are well positioned to support businesses as they continue to resume operations,” Dave Grende, president and CEO of Siena Lending Group, said.
The two deals from Siena Healthcare Finance were for companies in the home health industry based in New York.
“Stimulus programs for healthcare companies have given our industry a needed boost,” Jennifer Sheasgreen, president of Healthcare Finance, said. “Although they are designed to bolster providers during unprecedented times, these programs will certainly come to an end. Siena Healthcare Finance continues to deliver financing solutions now and moving forward, and, importantly, we do so transparently. We are excited to be a stable source of capital for our new clients booked in Q2.”