Siena Lending Group LLC (“Siena”) announces the completion of a three-year $10.0 million asset based revolving credit facility for Integrity Delaware, LLC dba Integrity Industries (“Integrity”) to provide additional working capital for the business as they begin their expansion plans to meet the rising demand in the oilfield.
Headquartered in Kingsville, TX, Integrity is a leading manufacturer of high-quality drilling fluid products and oilfield specialty chemicals, including oil-based mud, fracking chemicals, and lubricants. Integrity has occupied the same niche for more than 25 years and is recognized as an expert in oil-based drilling systems and chemicals.
Max Duncan, CEO of Integrity Delaware, LLC, said, “We are excited to partner with Siena as a vehicle to support our growing business. They were willing to help us when conventional banks wouldn’t, and for that we are thankful to Siena."
Victoria Levine, Director of Siena Lending Group, said, “We are pleased to provide a flexible asset-based facility to Integrity Industries to support their growth initiatives. We have been very impressed by Max, his leadership team and the entire organization and look forward to assisting them in achieving their goals.”
vin Davidge, CFO of AlterG, said, “Siena, in combination with First West Capital, provided a complete financing package that suits our needs and will allow us to focus on moving our business forward in a number of exciting areas. Siena was instrumental in driving the closing process and I appreciated their flexibility in getting the deal done.”