Siena Lending Group, an independent asset-based lending company, increased its senior credit facility with Wells Fargo Capital Finance to $575 million. This upsize will enable Siena to continue its growth following a historic year in which it closed more than $565 million in facilities across 20 relationships.
“We are very excited and proud of our results in 2021,” David Grende, president and CEO of Siena Lending Group, said. “The last few years were transformative for many of us, including Siena. We saw our deal size increase significantly over the years as well as our national footprint expanding with additional hires and new client relationships. This achievement would not have been possible without the continued hard work and dedication of our team and the support from Wells Fargo and the bank group participating in the transaction. As always, we strive to uphold our promise to our clients and to deliver on our commitment to crafting flexible financing solutions for middle-market businesses.”
“Wells Fargo is pleased to work with Siena and provide additional capital to help support their continued growth,” Stewart Hayes, managing director in the lender finance division of Wells Fargo Commercial Capital, said. “Wells Fargo values our relationship with Siena and we appreciate their dedication to serving middle-market clients.”