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Siena Lending Group Provides $7MM Credit Facility to Armada Skis

September 28, 2016, 07:38 AM
Filed Under: Manufacturing

Siena Lending Group announces the completion of a $7 million credit facility for Armada Skis, Inc. (“Armada”) to refinance their existing senior debt and to support their working capital needs. 

Headquartered in Park City, UT, Armada designs, develops, sells, and distributes its branded ski equipment and apparel throughout the U.S., Canada, Europe and Asia. Founded by professional skiers in 2002, Armada is the original athlete-owned, athlete-inspired ski company.  Armada has stayed true to its roots and has continued to increase its brand awareness through its commitment to skiers.

Stephen Fuscaldo, Director of Siena Lending Group, said, “We are pleased to provide a flexible asset based facility to Armada that helps them through their seasonal needs and the revenue growth that they anticipate. We are excited to be their lender as the brand continues to grow.”

Erik Snyder, CEO of Armada stated, “We are very pleased to have the Siena Lending Group as our financial lender and partner. The Siena team demonstrated a high level of professionalism and were instrumental in incorporating the right lending structure for the company. They are a pleasure to work with and have a very dedicated team.”

Siena Lending Group is an independent commercial finance company offering asset-based loans between $1 million and $30 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.

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