Siena Lending Group LLC (“Siena”) announces the completion of a revolving credit facility for Shoham Ltd. (“Shoham”). The facility was used to refinance the company's existing senior debt and support their working capital needs.
Headquartered in Bloomfield, CT and founded in 1950, Shoham is a manufacturer and wholesaler of drafting, fine and graphic art, hobby and craft supplies. The company operates through two wholly owned subsidiaries, Alvin and Company, Inc. and Modern School Supplies, Inc. The companies’ products include drawing and drafting tools, pencils and related accessories, paper, cutting tools, fine art supplies and drafting and artist furniture.
Stephen Fuscaldo, Director of Siena, said, “Siena is very pleased to provide a working capital facility for Shoham that allows the company to meet its liquidity needs and fund their business plan.”
Scott Shoham, President & CEO, said, “Siena’s credit facility allows my company to meet its liquidity needs going forward. Siena was there for us when more traditional lenders were not and they closed in a timely fashion.”