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Siena Lending Group LLC Announces The Closing of a $17.7 Million Credit Facility for Greenfiber LLC
Siena Lending Group LLC (“Siena”) announces the completion of a $17.7 million revolving line of credit and term loan for Greenfiber LLC (“Greenfiber”). The facility was used to refinance Greenfiber’s existing senior debt and support the company's working capital needs.
Greenfiber, headquartered in Charlotte, North Carolina, is the leading producer of 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.
Stephen Fuscaldo, Director of Siena, said, “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.”
Shane Short, CEO of Greenfiber, said, “Siena really came through for us. They demonstrated a high level of professionalism and were able to close the transaction on a timely basis. We look forward to partnering with them going forward.”
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 from $3 million to $35 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 challenges and achieve their long-term visions. Siena provides financing solutions to companies across a broad spectrum of industries and sectors. Siena Healthcare Finance, a specialized division of Siena, is dedicated solely to serving companies within the healthcare industry. 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.