Siena Lending Group (“Siena”) announced the completion of a three-year $10 million senior secured revolving credit facility as part of a $25 million refinancing for Horizon Coach Lines (“HCL”). The financing was completed in conjunction with a capital lease from Nations Equipment Finance, LLC. Headquartered in Dallas, TX, HCL is a leading motor coach company that provides transportation for groups ranging from 10 to 100,000 with a fleet that includes luxury and standard motor coaches, transit and mini buses.
David Grende, President and CEO of Siena Lending Group, said, “We are pleased to be able to work in conjunction with Nations Equipment Finance to provide an overall credit facility that will give HCL the ability to maximize the return on their fleet investment. We look forward to working with the company as they continue to execute their business plan.”
Frank Sherman, CEO of TMS, said, “We are very pleased with Siena’s execution in closing the transaction and their coordination with Nations Equipment Finance. They were able to act quickly and worked very hard in bringing the transaction to a quick close.”
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 independence as a finance company allows innovative and flexible solutions, while allowing its customers to maintain a relationship with their own bank. Siena’s management team is experienced, innovative, dependable, entrepreneurial, and highly regarded within the industry. The team has, on average, over 20 years each of experience and has transacted over $12 billion in facilities.