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Siena Lending Group Provides $6.6MM DIP Loan to Lincoln Paper

October 06, 2015, 07:39 AM
Filed Under: Paper

Siena Lending Group announced the completion of a $6.6 million debtor-in-possession revolving credit facility for Lincoln Paper and Tissue LLC (“Lincoln”). The facility will be used for working capital needs as a sale is completed through the 363 bankruptcy sale process. Lincoln has received and accepted a stalking horse bid prior to entry into bankruptcy court.

Headquartered in Lincoln, ME, Lincoln is the largest producer of deep-dyed tissue and a market leader in specialty white bonded tissue that is converted into napkins, party goods and specialty towels.

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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