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Siena Lending Closes $14.5MM Facility for AmerTac Holdings

June 24, 2015, 08:01 AM
Filed Under: Distribution

Siena Lending Group announced the completion of a $14.5 million revolving and term loan facility for AmerTac Holdings, Inc. (AmerTac). The facility was used to refinance the existing lender as well as providing additional liquidity for working capital needs.

Headquartered in Breinigsville, PA, AmerTac is a designer, marketer and distributor of electric fixtures including decorative wall plates, lighting controls and timers and other accessories that are sold primarily to the big-box retailers.

David Grende, President and CEO of Siena Lending Group, said, “We are very pleased that we were not only able to provide the financing for AmerTac but also assist in selecting an operational improvement advisor.”

Dan Rego, Chairman of AmerTac, said, “The people at Siena are very professional and not only focused on the critical refinancing requirement but cared about the long term viability of the company.”

Siena Lending Group is an independent commercial finance company offering asset-based loans between $1 million and $25 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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