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Siena Lending Closes $10MM Credit Facility for Shale Support Holdings

May 01, 2018, 07:13 AM
Filed Under: Oil & Gas

Siena Lending Group LLC announced the completion of a three-year $10 million revolving credit facility for Shale Support Holdings, LLC to provide additional working capital to support the growth of their business. Headquartered in Picayune, MS, Shale is a total solution provider for the hydraulic fracturing sand market by providing timely delivery of its premium quality Delta Pearl hydraulic fracturing sand, superior logistical solutions, and in-basin storage capacity. Shale serves many of the major shale plays including the Marcellus/Utica, Haynesville/Tuscaloosa, Permian, and Eagle Ford shale basins. After a successful recent plant expansion that more than doubled the company's output capacity, the company sought a working capital facility that offered flexible terms and Siena was able to deliver.

Charles Caswell, Chief Financial Officer of Shale, said, “We are excited to partner and look forward to growing our business with Siena’s support and commend them for their utmost professionalism and efficient closing process which made for a rapid close on this credit facility.”

Nick Payne, Director of Siena Lending Group, said, “We are pleased to partner with Shale and their management team to support a company strategically positioned for consistent growth. I’m proud that the Siena team was able to work quickly within the company’s specified timeline to close this credit facility and tailor it to management’s needs. We look forward to a long-term relationship with Shale.” 

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