Siena Lending Group announced the completion of a $6 million revolving and term loan facility for Lincoln Paper and Tissue, LLC. The facility was used to fund a capital expenditure project that was time sensitive and critical for the business as well as for working capital needs. The transaction closed within 30 days from the initial request.
Headquartered in Lincoln, ME, Lincoln is the largest producer of deep-dyed tissue and a market leader in specialty white bonded tissue that is converted into napkins, party goods and specialty towels.
David Grende, President and CEO of Siena Lending Group, said, “We are very pleased that we were able to provide the financing in a timely fashion for Lincoln to execute on its capital expenditure project.”
John Wissmann, CFO of Lincoln, said, “The people at Siena are very professional and are a pleasure to work with. They delivered on exactly what they proposed including closing the deal in 30 days.”
Siena Lending Group is an independent commercial finance company offering asset based loans between $1 million and $25 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.