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Siena Lending Group Provides $58.2MM in Financing to Biodiesel Producer

November 30, 2021, 07:27 AM
Filed Under: Fuel & Petroleum

Siena Lending Group completed a three-year asset-based revolving credit facility for a family-owned and operated Biodiesel Producer. The facility consists of a $50 million revolver and an $8.2 million term loan.

Domestically manufactured from vegetable oils, animal fats, or recycled grease, biodiesel is a renewable energy alternative that produces over 70% less CO2 than diesel, helping to reduce air pollution while supporting local communities. Siena’s financing solution for the Biodiesel Producer supported the continued production and distribution of biodiesel in existing markets and expansion into new markets.

“It’s an honor to support a company that is doing their part to help reduce our country’s carbon footprint with a sustainable alternative to petroleum diesel,” said Nick Payne, Director of Siena Lending Group. “Siena is proud to support a wide range of energy producers with our creative financing solutions.”

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