Siena Lending Group LLC Announces the Closing of a $17.5 Million Credit Facility for a California-Based Tire Company

Siena Lending Group LLC (“Siena”) is pleased to announce the closing of a $17.5 Million asset-based credit facility with a California-based Tire Company (“TireCo” or the “Company”).  The two-year revolving credit facility was used to refinance existing debt and provide additional working capital to support business growth. 

TireCo includes various business units which distribute tires and complementary auto parts, as well as operate a chain of retail tire installation and automotive service centers throughout California.  Privately owned and operated for over two decades, the Company was looking to refinance its existing bank loan with a lender that could provide more flexibility to run its business and additional liquidity to support new operating initiatives.  Siena delved into TireCo’s complex organization structure to understand the operations and delivered a preferred financing solution.

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 $5 million to $40 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.