May 14, 2024

Siena Lending Group Closes New $35 Million Credit Facility for Charah Solutions, Inc.

April 1, 2024

Siena Lending Group Announces Leadership Changes And Promotions

November 15, 2023

Siena Lending Group Completes $45.6 Million Credit Facilities For a Healthier Snacks and Food Producer

October 18, 2023

Siena Lending Group LLC Announces the Closing of a CDN$30 Million Credit Facility for Capital Health Partners

September 25, 2023

Siena Lending Group LLC Demonstrates Canada Lending Capabilities with the Closing of a $20 Million Credit Facility for a Specialty Aerospace Manufacturer

September 14, 2023

Siena Lending Group LLC Announces the Closing of a $37 Million Credit Facility for Camelot Si LLC D/B/A Sharper Image

August 30, 2023

Siena Lending Group Closes a $78 Million Credit Facility for an Alcoholic Beverages Company

July 11, 2023

Siena Lending Group LLC Announces The Closing of a $35.0 Million Revolving Credit Facility for a Nutritional Supplement and Body Care Company (“Nutritional”)

May 24, 2023

Siena Lending Group Closes a $25 Million Credit Facility to Finance Acquisition of National Railway Equipment Co.

April 25, 2023

Siena Lending Group LLC Announces The Closing of a $35 Million Credit Facility For a Functional Footwear and Accessory Company

April 19, 2023

Siena Lending Group LLC Announces the Closing Of A $35 Million Credit Facility for Grove Collaborative Holdings, Inc.

January 30, 2023

Siena Lending Group LLC Increases Its Senior Leverage Facility to $672.5 Million

January 18, 2023

Siena Lending Group and Great Rock Capital Arrange $100 Million Senior Secured Credit Facility with Skywater Technology

October 27, 2022

Siena Lending Group Announces the Closing of a $45 Million Credit Facility for Gladiator Energy LLC

October 19, 2022

Siena Lending Group LLC Closes $50 Million Credit Facility for MD Helicopters, LLC.

September 8, 2022

Siena Lending Group LLC Announces the Closing of a $50 Million Credit Facility For Inseego Corp.

August 22, 2022

Bridget Anderson named Senior Vice President, Originations for Siena Lending Group

June 22, 2022

Siena Lending Group Announces Key Promotions

March 23, 2022

Siena Announces Q42021 Results

Siena Lending Group Announces Credit Facility Increase to $575MM

October 28, 2021

Siena Announces Q32021 Results

October 12, 2021

Siena Named One of ABF Journal’s “Most Innovative Companies in Specialty Finance”

Siena Lending Group LLC (“Siena”) is honored to be featured in ABF Journal’s Most Innovative Companies issue, which recognizes forward-thinking companies across the specialty finance space.

The magazine highlights Siena’s innovation and agility during the pandemic, as the firm pivoted quickly last year to provide much-needed relief to clients and guide them through the PPP application process. That momentum has continued to build in 2021, as Siena set firm records for total deals and aggregate facilities closed in Q2.

“Siena is proud to be recognized for our ability to craft creative financing solutions and help our clients adapt to changing marketplace conditions,” said David Grende, President and CEO of Siena Lending Group. “These strengths have always set Siena apart, and have never been more critical to our clients than the past 18+ months.”

To read the article, turn to page 50 in ABF Journal’s Q3 interactive digital edition.

October 7, 2021

Siena Honored with M&A Advisor’s Turnaround Award

Siena Lending Group is proud to be an honoree in the 15th Annual Turnaround Awards, which recognize achievements in the distressed investing and reorganization industry. The awards, sponsored by The M&A Advisor, were presented at a gala dinner in late September. 

Siena received the “Refinancing of the Year” award in the under-$100 million category for closing a $21.5 million credit facility that supported the refinancing of Arandell Corporation and its acquisition by Saothair Capital Partners. The Arandell acquisition was Saothair’s first as a private equity firm focusing on the lower middle market—a transaction that helped preserve over 500 jobs during a global pandemic. 

“It is truly an honor to be recognized by The M&A Advisor for our team’s hard work and dedication during an historically challenging time,” said David Grende, President and CEO of Siena. “Siena has been proud to help our clients—including many with private equity sponsors—successfully execute on their business plans over the past 18 months, despite the significant hurdles facing most industries.”

Siena congratulates Harney Partners on sharing in the award as financial advisor to Arandell.

August 12, 2021

Siena Lending Group Announces $80 Million Credit Facility to iMedia Brands, Inc.

August 4, 2021

Siena Lending Group Announces increases Credit Facility to $400MM

Siena Lending Group Announces Second Quarter 2021 Results

June 25, 2021

Siena Closes $58 Million Credit Facility for Textile Manufacturer

April 29, 2021

Siena Lending Group Announces First Quarter 2021 Results

April 26, 2021

ABF Journal: Top Women in ABL

April 20, 2021

Siena Bolsters Commitment to Midwest Markets with Panico Hire

February 3, 2021

Siena Lending Announces Fourth Quarter and Year End 2020 Results

December 15, 2020

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 (the “Company”).  The two-year revolving credit facility was used to refinance existing debt and provide additional working capital to support business growth.  

The Company 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 the Company’s complex organization structure to understand the operations and delivered a preferred financing solution. 

December 10, 2020

Siena Lending Group LLC Announces the Closing of a $21.5 Million Credit Facility to Support Saothair Capital Partners’ Acquisition of Arandell Corporation

Siena Lending Group LLC (“Siena”) announces the completion of a $21.5 million asset-based revolving line of credit for Arandell Corporation (“Arandell”). The facility was provided in conjunction with Saothair Capital Partners (“Saothair”) to fund the acquisition pursuant to a 363 sale of assets under Chapter 11, and for working capital needs to support future growth.

Founded in 1922 and based in Menomonee Falls, WI, Arandell is one of the nation’s leading providers of high-quality catalog and brochure printing, mailing and logistics, with a strategic focus on upscale retailers and well-recognized brands throughout the United States. With approximately 530 employees, Arandell’s operations include a state-of-the-art prepress department, one of the industry’s most efficient heat-set web pressrooms, and a bindery that includes saddle stitching, perfect binding and co-mailing capabilities.

Dave Grende, President and CEO of Siena said, “We are pleased to be a partner to Saothair for their first investment as a PE firm focused on the lower middle market. We are even more pleased to be a part of a transaction that will help in maintaining over 500 jobs in Wisconsin during a challenging economic period.  Arandell has quite a storied history, along with a quality product. The acquisition as well as bankruptcy exit financing that was provided is the final step to ensure their viability and long-term success.”

Kevin Madden, Co-founder and Managing Partner of Saothair said, “Arandell is exactly the sort of business Saothair was created to invest in – a fundamentally strong company that is highly valued by its customers and a leader in its industry, but one that has been held back by an over-leveraged balance sheet and beset by the historic, unprecedented challenges of the COVID-19 pandemic. We are extraordinarily grateful to the International Brotherhood of Teamsters and this committed and talented workforce for their confidence in us to be stewards in the next chapter of Arandell’s long history of success. We are also appreciative of the team at Siena in working with us on a financing arrangement that fit the unique needs of this acquisition and this business.”

December 3, 2020

Siena Lending Group LLC Announces the Closing of a $25 Million Credit Facility to Support the Acquisition of the Surface Pressure Control Business Unit of Baker Hughes

Siena Lending Group LLC (“Siena”) announces the completion of a $25 million asset-based revolving line of credit for Vault Pressure Control LLC (“Vault Pressure Control”). The facility was provided in conjunction with Pelican Energy Partners to fund the acquisition as well as for working capital needs to support future growth.

Vault Pressure Control, based in Houston, Texas, was formerly the Surface Pressure Control Flow business unit of the Oilfield Equipment segment of Baker Hughes.  The newly independent company is wholly focused on providing outstanding customer service and world-class products to pressure control customers in the US, Canada, Australia, Papua New Guinea, and Trinidad & Tobago markets.

Dave Grende, President and CEO of Siena, said, “I am extremely proud of our team here and our continued ability to deliver on our commitment.  Even in the current environment and the sector headwinds, our team was able to execute on our original proposal, keeping the proposed structure of the deal as well as getting it to completion in a very tight timeframe of less than 45 days.  We will continue to be a trusted partner to our clients and our intermediaries in keeping with our long standing reputation.”

Mike Scott, Founder and Managing Partner of Pelican Energy Partners said, “Siena has proven to be a great partner for Pelican and for Vault.  Siena consistently did what they said they were going to do and delivered on a tight schedule and in a challenging market environment.  Siena has earned our respect as a partner and we look forward to a long and productive relationship.”

October 21, 2020

Siena Lending Announces Third Quarter Results

October 15, 2020

Siena Lending Provides $20MM Credit Facility to FreightCar America

September 9, 2020

Congratulations Mo Islam on Being Selected as a Recipient of the SFNet’s 40 Under 40 Award

July 15, 2020

Siena Lending Group Announces Second Quarter 2020 Results

April 15, 2020

Siena Lending Group LLC Closes $63 Million in New Credit Facilities in the First Quarter of 2020

February 21, 2020

Siena Lending Group LLC Surpasses $1.0 Billion in Closed Credit Facilities

November 6, 2019

Siena Lending Group LLC Announces an Increase in its Credit Facility with Wells Fargo Bank, N.A. to Over $300 Million

September 5, 2019

Siena Lending Group Launches Siena Healthcare Finance

May 10, 2019

Siena Sponsors CFA Cares Spring Gala

May 9, 2019

Siena Lending Group LLC Announces Suzanne Lovett has joined the Firm as Director of Southwest Originations

March 27, 2019

Siena Lending Group LLC Announces Larry Swinney has joined the Firm as Director of Southeast Originations

March 14, 2019

Siena Lending Group LLC Hires Renee Singer as Senior Vice President Relationship Manager

February 22, 2019

Business Development Corporation of America, an affiliate of Benefit Street Partners, Acquires Siena Capital Finance LLC

October 7, 2015

David Grende, President & CEO of Siena Lending Group, Named Vice President of Commercial Finance Association

August 8, 2013

Siena Lending Group Closes Credit Facility With Wells Fargo Capital Finance

Siena Lending Group and its affiliates announced the completion of a revolving credit facility with Wells Fargo Capital Finance. Siena will use this credit facility to expand its balance sheet and continue funding small and medium sized businesses throughout the United States.

“We are very pleased to extend this credit facility to Siena,” said Andrea Petro, Division Manager of the Lender Finance Division of Wells Fargo Capital Finance, adding “We have known and have been impressed with David Grende and his team’s long track record of success and look forward to supporting Siena’s plans for continued growth.”

Siena’s business model, team and sponsorship by Solaia Capital were important factors in securing the financing with Wells Fargo. “Our longstanding relationship with Wells Fargo coupled with its market dominance in the lender finance sector make Wells Fargo the perfect financing partner for Siena,” said Michael Carrazza, CEO of Solaia Capital and Siena’s Chairman. “Securing this attractive credit financing speaks of the strength of Siena’s platform and growth opportunities.”

Siena is run by the former executive team of Burdale Capital Finance, Inc., the U.S. Asset Based Lending Division of Bank of Ireland. Bank of Ireland’s $1.2 billion U.S. ABL portfolio was sold to Wells Fargo in 2012, and the core team was re-launched as Siena.

Siena’s hybrid business model targets a widening gap between community banks and commercial business lending. In addition to providing direct financing to businesses, Siena offers turn-key origination and servicing capabilities for participating community banks that are seeking exposure in the asset-based lending market. Siena provides community bank partners the ability to acquire high quality, variable rate, low risk, economically attractive loans without direct cost or increased SG&A. The intensive loan monitoring required for asset-based loans is managed by Siena’s team at institutional standards, which small banks cannot readily replicate.

“Wells Fargo will further enhance our strong foundation and enable us to continue providing dependable funding to our customers,” said David Grende, Siena’s President and CEO. He added, “Our business model targets companies that may have unique financing needs that may not fit into the credit profile of traditional bank lending. Our funding from Wells Fargo is a key component that will help us expand and meet our business objectives.”

Siena Lending Group is an independent commercial finance company offering asset based loans between $1 and $20 million to small and middle market businesses across the United States. Siena also offers a turn-key servicing platform, which provides an attractive asset based product for community and regional banks that desire improved operating metrics and asset diversification.

July 26, 2013

Siena Lending Group Hires Steve Fuscaldo as Director of New Business Originations

Siena Lending Group announced the hiring of Steve Fuscaldo as director of new business originations. With close to 30 years of asset based lending experience, Fuscaldo adds to the senior credit talent at Siena, while broadening its origination capabilities. He was most recently with TD Bank, a move made subsequent to the sale of Burdale Capital Finance to Wells Fargo in early 2012. Siena is a relaunch of the core team of Burdale, and Steve is pleased to be reunited with his fellow colleagues.

Prior to Burdale, Fuscaldo was at GE Capital for twelve years holding various positions including originator, regional manager and senior underwriter. Fuscaldo began his career in asset-based lending at CIT Credit Finance and predecessor companies, Fidelcor Business Credit and Lazere Financial. Since Fuscaldo has worked in all facets of the industry, from field examiner to regional manager, he is able to construct innovative solutions for all types of business needs. He is a member of several professional organizations including the CFA, TMA and ACG and served as president of the CFA’s New York Chapter in 2010 and 2011.

Siena Lending Group is an independent commercial finance company offering asset based loans between $1 million and $20 million to small and middle market businesses across the United States. Siena also offers a turn-key servicing platform, which provides an attractive asset-based product for community and regional banks that desire improved operating metrics and asset diversification.

Siena’s hybrid business model targets a widening gap between community banks and commercial business lending. In addition to providing direct financing to businesses, Siena offers turn-key origination and servicing capabilities for participating community banks that are seeking exposure in the asset-based lending market. Siena provides community bank partners the ability to acquire high quality, variable rate, low risk, economically attractive loans without direct cost or increased SG&A. The intensive loan monitoring required for asset-based loans is managed by Siena’s team at institutional standards, which small banks cannot readily replicate.

“Wells Fargo will further enhance our strong foundation and enable us to continue providing dependable funding to our customers,” said David Grende, Siena’s President and CEO. He added, “Our business model targets companies that may have unique financing needs that may not fit into the credit profile of traditional bank lending. Our funding from Wells Fargo is a key component that will help us expand and meet our business objectives.”

Siena Lending Group is an independent commercial finance company offering asset based loans between $1 and $20 million to small and middle market businesses across the United States. Siena also offers a turn-key servicing platform, which provides an attractive asset based product for community and regional banks that desire improved operating metrics and asset diversification.