Siena Lending Group LLC (“Siena”) is pleased to announce the closing of a $78 million senior secured credit facility with an alcoholic beverage producer and distributor (the “Company”).  The loans are being used to provide additional capital to refinance existing debt and support future growth opportunities.

The Company produces and sells distilled spirits and ready-to-drink cocktails on a private label and contract manufacturing basis, as well as a full line of its own branded products.  Privately owned by the founding family for over 70 years, the Company was seeking a financing partner that could provide a flexible solution with added liquidity to complete its turnaround and support new operating initiatives.

Last Fall, Webster Bank announced that Abby Parsonnet was named executive managing director, head of Asset Based Lending (ABL) for Webster Bank. In her role, she oversees the nationwide Asset-Based Lending and Commercial Services teams at Webster, which also includes staffing solutions and factoring. She reports to Chris Motl, president of Commercial Banking.

As head of ABL, Parsonnet is responsible for continuing Webster’s strong tradition of excellence in delivering customized working capital solutions to middle- market clients and sponsors.  She will lead a team of bankers based in strategic markets nationwide.

Here, Abby discusses her career, goals in her new role, how the merger with Sterling National Bank helped to expand Webster’s offerings, particularly in ABL and factoring, and more.