Siena Lending Group 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.
Siena Lending Group, an asset-based lender, closed a $70 million credit facility with Navajo Transitional Energy Company. The financing solution includes a $50 million asset-based revolving credit facility and a $20 million second lien term loan arranged by Siena.
Siena Lending Group received the refinancing of the year award at the 15th Annual Turnaround Awards in the under $100 million category for closing a $21.5 million credit facility that supported the refinancing of Arandell Corporation and its acquisition by Saothair Capital Partners.
Siena Lending Group closed a previously announced $80 million credit facility with iMedia Brands. In addition to the $80 million asset-based revolving credit facility, Siena arranged a $28.5 million term loan secured by company-owned real estate, which was completed in conjunction with Siena’s loan.
Siena Lending Group, an independent asset-based lending company, increased its senior credit facility with Wells Fargo Capital Finance to $400 million.
Siena Lending Group provided a $25 million asset-based revolving line of credit for Pelican Energy Partner’s acquisition of Vault Pressure Control.
Commercial Finance Association Announces Name Change Seventy-Four-Year-Old Trade Association Rebranding as Secured Finance Network
During its 74th Annual Convention in San Diego, the Commercial Finance Association announced it will rebrand in 2019 as Secured Finance Network.
Siena Lending Group announced its formal launch and said it’s actively providing SMEs with asset-based lending loans across the U.S. Siena is managed by the former executive team of Burdale Capital Finance, which was sold to Wells Fargo in 2012.