MENU

The client was a nonprofit organization that provides education, behavioral health and child welfare services to children, adolescents and families.

CHALLENGE

In 2017, the school had to file for bankruptcy to settle a major litigation.

SOLUTION

Siena was able to structure a DIP deal that allowed the school to continue to operate and provide services during the bankruptcy process.

RESULT

The school was subsequently acquired by a nonprofit institute for public health.

“When I was first told the basics of the deal, my thought was no way. A nonprofit school? How did that fit into an ABL structure? Scott (Elliotto) told me to let him finish and I did. He walked me through the situation, their mission and how we could help get them through this tough time. Once I learned more about the school and the greater community they served, we were also on a mission. We were able to turn an unlikely ABL candidate into a client and help them through the bankruptcy process, and now they are back to what they do best—serving their community.”

– David Grende
President & CEO, Siena Lending Group
Siena Asset Based Loan Case Study: Not-for-Profit Organization
$5 Million
Service

“Siena was able to help our client find a temporary home while it was going through a tough process. They delivered and executed efficiently and effectively which has allowed the organization to stay open and running during the process. Now that the dust has settled, they are able to get back to working with the community that they serve.”

– William Henrich
Co-Chairman, Getzler Henrich & Associates