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Siena Lending Group LLC Announces an Increase in its Credit Facility with Wells Fargo Bank, N.A. to Over $300 Million
November 5, 2019
Source: Siena Lending Group LLC
Siena Lending Group LLC (“Siena”), a leading asset-based lending company, announced today an increase in its senior credit facility with Wells Fargo Bank, N.A. to $312.5 million.
Earlier this year, Siena announced their acquisition by Business Development Corporation of America, an affiliate of Benefit Street Partners. This was followed by the launch of Siena Healthcare Finance in September. The increase in the facility size will enable Siena to meet its business objectives and to continue scaling its portfolio of asset-based loans.
“This is an exciting time for us,” said David Grende, President & CEO of Siena. “Since starting Siena in 2013, we’ve underwritten more than 150 transactions totaling over $1.3 billion in total credit facilities. The additional funding from Wells will allow us to continue our growth trajectory as we remain committed to crafting flexible financing solutions for our clients and delivering on our promises to help middle-market businesses.”
“Wells Fargo is excited to provide Siena with the financial flexibility and industry expertise needed to support their strategic initiative in the healthcare industry,” said David Koshenina, Head of Lender Finance at Wells Fargo. “We look forward to being part of their continued success and helping them achieve their long-term strategy.”
About Siena Lending:
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 $50 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.
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