Siena Lending Group LLC (“Siena”) announces the completion of an $11.75 million secured credit facility comprised of a senior secured asset-based revolving line of credit and term loans for Nilco Enterprises, Inc. and Dial Lubricants, Inc. (“Dial”). The facilities will be used to support the companies’ working capital needs and continued growth.
Dial, founded in 1996 and based in Dallas, Texas, is the preferred distributor of branded oils, lubricants, greases and fuels. Dial proudly represents products from top suppliers such as Citgo, Total, Phillips 66, Dow and Calumet. Dial’s warehouses and distribution network provides customers with on-time deliveries in Texas, New Mexico, Arkansas, and Oklahoma. The company also offers recycling services of used oil and filters through its Nilco Environmental Services division.
Suzanne Lovett, Director of Siena, said, “Eric has the character and integrity you wish for in every client – he is honest, hardworking, and a man of his word. I look forward to watching his companies' continued success and growing our relationship with him.”
Eric Nilsson, Chief Executive Officer of Dial, said, “Siena encouraged us and found solutions through any issues. Everyone showed patience when needed. I am very pleased with Siena’s customer service along with all of the supporting staff on both sides. We are excited for the future and the partnership with Siena Lending Group.”