Christmas by Krebs, an ornament company, was Siena’s first client and remains with us today.


Due to the nature of Christmas by Krebs’ industry, the company is a highly seasonal borrower, depending on inventory financing for more than half of the year.


Siena was able to structure a deal that included an over-advance when Christmas by Krebs was out of season to provide the liquidity the company needed. In addition, we were comfortable working out a structure for Christmas by Krebs’ German affiliates that provided the ability to move funds among companies.


Christmas by Krebs has been a satisfied and loyal client, as Siena has exhibited both commitment and flexibility. The company is still with Siena, utilizing us to continue its evolution from a business rooted in traditional ornament making to creating more customized, higher-end ornaments.

“Christmas by Krebs was our first client, and five years later they are still with us. The financing we have been providing to them has been something that is generally outside the norm, with the inventory loan and seasonal over-advance requirements. These two generally make for a difficult structure, but we have been able to get it right and will continue to work with them as they transition their business.”

– Steve Sanicola
Director Risk & Portfolio Management, Siena Lending Group
$6 Million

“Working with Siena Lending Group over the years has really had a positive impact on our business. Siena was able to work through our seasonal requirements when others were having difficulty and has been a trusted partner during our relationship, changing the structure to meet our current demands and allowing us to meet our growth objectives.”

– Walter Krebs
CEO, Christmas by Krebs