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Siena Closes $45MM in New Facilities in Q2; Announces Personnel Changes

July 14, 2020, 09:00 AM

Siena Lending Group provided an overview of the financing solutions that Siena and its Siena Healthcare Finance division delivered in Q2 2020.

Siena Lending Group closed two deals totalling $25 million for two firms, in the pharmaceuticals and beauty spaces.The firm also made strategic personnel changes to better position itself for post-COVID economic recovery.

“In the second quarter, we worked hard to ensure our clients could access PPP funds while also closing new deals and growing our pipeline," said David Grende, President & CEO, Siena Lending Group. "We promoted Jim Persico to Director of Risk and Portfolio Management, and welcomed Ernie Abati to the Underwriting team as a Senior Vice President. Moving into the second half of 2020, we are well positioned to support businesses as they continue to resume operations.”

Siena's Healthcare Finance division funded two deals in the second quarter totalling $20 million. Both recipients were in the home healthcare industry.

“Stimulus programs for healthcare companies have given our industry a needed boost. Although they are designed to bolster providers during unprecedented times, these programs will certainly come to an end. Siena Healthcare Finance continues to deliver financing solutions now and moving forward—and, importantly, we do so transparently. We are excited to be a stable source of capital for our new clients booked in Q2," said Jennifer Sheasgreen, President of Siena Healthcare Finance.

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