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Siena Lending Group Provides $7.5MM Facility to Harper Industries

November 20, 2013, 08:02 AM
Filed Under: Construction

Siena Lending Group announced the completion of a three-year $7.5 million senior secured credit facility for Harper Industries, Inc. on November 8, 2013. The credit facility consists of a $6 million working capital revolver and a $1.5 million equipment term loan.

Harper Industries, Inc. is a holding company that has construction related subsidiaries working in the southeast United States. Billy Harper, President and CEO of Harper Industries, Inc. said, “Working with the Siena Lending Group team was a pleasure because of their attention to detail, expeditious process and their professionalism.” In addition, David Belt, VP and CFO of Harper Industries, Inc. stated, “The entire Siena team worked diligently and long hours to understand our needs and create a facility to meet our needs.”

David Grende, President and CEO, of Siena Lending Group LLC, said, “This transaction underscores our expertise and innovation with structuring deals to support the unique capital needs of our customers. We are thrilled with the opportunity to partner with this strong management team and support their growing business.”

Siena Lending Group is an independent commercial finance company offering asset-based loans between $1 million and $20 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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