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Siena Lending Group Provides $7.5MM Credit Facility to ABC

July 14, 2016, 07:44 AM
Filed Under: Manufacturing

Siena Lending Group announced the completion of a three-year $7.5 million asset-based revolving and term loan credit facility for American Bare Conductor Inc (“ABC”) to refinance their existing senior debt and to provide additional working capital for the business. Located in LaSalle, IL, American Bare Conductor offers comprehensive lines of bare copper and insulated wire and cable products for industrial applications as well as for special uses.

Ricardo Kawamura, CEO and Director of ABC said, “We are pleased to enter into this new credit agreement, which will provide us a competitive advantage to implement our continuous growth plan. This deal enhances our ability to develop our market share and recognition of our brands." 

Nick Payne, Senior Vice President of Siena Lending Group, said, “We are very pleased to provide this credit facility to American Bare Conductor to support their growth initiatives.  We worked closely with Ricardo and his leadership team to provide a flexible solution that was delivered within the terms and timeframe specified by the company.” 

Siena Lending Group is an independent commercial finance company offering asset based loans between $2 million and $30 million to small and middle-market businesses across the United States. Siena also offers a referral and servicing program for community and regional banks which advances a bank's asset-based lending capabilities without incremental cost. Siena’s independence as a finance company allows innovative and flexible solutions, while allowing its customers to maintain a relationship with their own bank.

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