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Siena Lending Group Closes $2.5MM Credit Facility for DelVal Flow Controls

December 08, 2016, 07:38 AM
Filed Under: Manufacturing

Siena Lending Group LLC (“Siena”) announces the completion of a three-year $2.5 million asset based revolving and term loan credit facility for DelVal Flow Controls ("DelVal") to refinance their existing senior debt and to provide additional working capital for the business. Located in Geismar, LA, DelVal proudly presents a range of world-class flow control valves and valve automation products produced with one simple goal in mind - "Customer Benefit".

Chip Lee, CEO of DelVal Flow Controls said, "This strategic relationship with Siena will help us expand our business in North & South America. We look forward to working with Siena for many years to come as they help us achieve our mission of becoming the preferred brand for flow control products throughout the world."

Nick Payne, Senior Vice President of Siena Lending Group, said, "Our team is delighted to provide this credit facility to DelVal to support their execution of several strategic objectives. We worked succinctly with Chip and his team to provide an innovative solution that was delivered within the time frame specified by both the company and its shareholders."

Siena Lending Group LLC is an independent specialty finance company offering asset based loans between $2 million and $30 million to middle market businesses across the United States. Our clients typically cannot access traditional financing from banking institutions. Siena also offers a turn-key servicing platform for community and regional banks, ABL Alliance. This product allows a bank to responsibly gain exposure in asset based lending without investing the time or resources in building an internal back office and technological capability.

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, 20 years each of experience and has transacted over $12 billion in facilities.

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