Siena Lending Group Announces Credit Facility Increase to $400MM

Siena Lending Group LLC ("Siena"), a leading independent asset-based lending company, today announced it has increased its senior credit facility with Wells Fargo Capital Finance to $400 million. This upsize will enable Siena to continue its growth following the firm’s historic results in the second quarter of 2021, when it closed more than $220 million in credit facilities for middle-market businesses across the country.

“After a long and challenging year for everyone, we are excited to be returning to a sense of normalcy,” said David Grende, Siena’s President and CEO. “Siena has underwritten more than 200 credit facilities totaling nearly $2 billion since 2013, and set a firm record for aggregate facilities closed last quarter. This achievement would not have been possible without the heart and dedication of our team, and the support from Wells Fargo and the bank group that participated in the transaction. As always, we look forward to upholding our promise to our clients, and delivering on our commitment to crafting flexible financing solutions for middle-market businesses.”

“Siena has done a remarkable job navigating the challenges presented by COVID. By demonstrating industry expertise, creativity, and patience, they were able to help their clients do the same,” said David Koshenina, head of lender finance for Wells Fargo Capital Finance. “Wells Fargo values our relationship with Siena and we appreciate their dedication to serving middle-market clients.”

About Siena Lending Group

Siena Lending Group is a leading asset-based lender which serves middle-market companies looking for an alternative to traditional bank financing. Siena offers asset-based loans generally ranging from $7–$60 million and consistently finds creative ways to provide borrowers with maximum flexibility and liquidity. With deep lending experience and expertise in complex situations, clients can feel confident knowing Siena brings the patience and perspective to help them work through any challenges and achieve their long-term visions. Siena provides financing solutions to companies across a broad spectrum of industries. Siena Healthcare Finance, a specialized division of Siena, is dedicated solely to serving companies within the healthcare sector. Siena is a portfolio company of Business Development Corporation of America, an affiliate of Benefit Street Partners LLC. For more information, visit www.sienalending.com or www.sienahealthcarefinance.com or contact a Siena team member.