Siena Lending Group Announces First Quarter Results

Siena Lending Group continues to be a leader in the asset-based lending industry, consistently finding creative ways to offer its clients maximum flexibility and liquidity. Siena is proud to provide this overview of the financing solutions that Siena and its Siena Healthcare Finance division delivered in Q1 2020. In particular, Siena is honored to support companies helping first responders, medical workers and healthcare facilities to serve our communities during the COVID-19 pandemic.

Siena Lending Group closed five deals totaling $51 million for an accessories manufacturer and food container manufacturer and companies provided software development, logistics and transportation.

“In these challenging times, we understand the need to act quickly and help communities pull together. We provided one client, a distillery, with an overadvance to produce and donate an incredible 25 tons of hand sanitizer. Another client, an ornament manufacturer, is now producing personal protective equipment. Amid this pandemic, we will continue to be a trusted partner to our referral sources as well as our clients.”

— Dave Grende, president & CEO, Siena Lending Group

Siena Healthcare Finance closed two deals totaling $12 million for a skilled nursing facility chain and medical and government staffing.

“Siena Healthcare Finance continues to deliver working capital solutions and do our part to help our nation through this pandemic. For example, we provided same-day approval for a facility increase to help a client meet the growing pharmaceutical needs of healthcare facilities across the country due to COVID-19. We look forward to the future—and providing capital to help businesses grow as our economy rebuilds.”

 — Jennifer Sheasgreen, president Healthcare Finance