Siena Lending Group LLC (“Siena”) announced the completion of a three year, $5 million senior secured revolving credit facility for Organic Holdings (“Organic”). The facility was used to refinance Organic’s existing credit facility and will be used for working capital needs as Organic continues on its strong path of growth.
Headquartered in Boca Raton, FL, Organic is an emerging leader in the development and sale of science-based, natural nutritional supplements, vitamins, and healthy weight management products. Organic is the leader in the resveratrol and collagen supplement categories under the Reserveage and ResVitale brand names.
David Grende, President and CEO of Siena Lending Group, said, “We are pleased to be able to provide Organic with the capital that they will need in order to continue to execute on their growth plans.”
Naomi Whittel, Majority Owner and the CEO of Organic, said, “We are very pleased to have a partner in Siena to help us achieve our growth goals. Siena understands our industry and was able to put together a financing package that fits our needs.”
About Siena Lending Group:
Siena Lending Group is an independent commercial finance company offering asset based loans between $1 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 & 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. For further information please visit us at www.sienalending.com or contact a Siena team member.