Siena Lending Group announced the completion of a one-year $1.5 million senior secured revolving credit facility for Vinturi, Inc. The facility will be used to support Vinturi’s working capital and seasonal requirements.
Headquartered in Carlsbad, CA, Vinturi, Inc. is a premier designer, marketer and distributor of patented wine aeration products utilizing the Bernoulli principle.
David Grende, President and CEO of Siena Lending Group, said, “We are pleased to be able to provide Vinturi the working capital it needs for their seasonal requirements and for their anticipated growth.”
Paul Stacey, CEO of Vinturi, said, “Siena was very flexible and creative in providing a structure that meets our seasonal needs and forecasted growth. They were a pleasure to deal with.”
Siena Lending Group is an independent commercial finance company offering asset-based loans between $1 million and $20 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.