Siena Lending Group LLC ("Siena")is pleased to announce the closing of a $25 million asset-based credit facility for TRM NRE Acquisition LLC to finance the acquisition of certain assets of National Railway Equipment Co. (“NRE” or the “Company”). Siena’s revolving credit and delayed draw term loan facility was closed in only 19 days to finance TRM Equity’s (“TRM”) purchase of certain assets of NRE and their ongoing working capital needs. Armory Securities, LLC (“Armory”) acted as the Company’s advisor on their restructuring, sale and financing.

 

Unless you’re the most junior person in your work environment, everyone should mentor their less-experienced team members.  Helping them learn should be as natural an effort as holding the door for those entering a room behind you.  These efforts will create experienced individuals with broad-based perspectives on how to approach their responsibilities within the secured lending industry.  Leaders within SFNet member organizations generally agree there is a lack of “bench strength” in the secured lending industry.  Greater preponderance of mentoring would tie junior people more to their organizations and to the industry as a whole.