Siena Lending Group

David Grende, the co-founder and CEO, leads the firm. He is supported by Todd Eubanks (Chief Risk Officer) and a team of senior underwriters, most of whom previously worked under Grende at Burdale Capital Finance or held senior roles at GE Capital and CIT. Credit approval ultimately sits with the senior leadership group Grende has maintained for more than two decades.

Siena is an independent non-bank asset-based lender, structured as a portfolio company of Franklin BSP Capital Corporation, which is an affiliate of Benefit Street Partners and a wholly owned subsidiary of Franklin Resources, Inc. (Franklin Templeton). It is not a regulated bank, which allows it greater flexibility on advance rates, collateral types, and covenant structures than a typical bank ABL group.

Siena provides senior secured asset-based revolving credit facilities and term loans, working capital loans, DIP financings, and exit financings. The firm does not originate cash-flow-only loans, mezzanine debt, or equity. Its underwriting is anchored to the liquidation value of hard assets and working capital, primarily accounts receivable and inventory.

Hold sizes range from $10 million to over $100 million per facility. The firm lends across the United States and Canada through origination offices in Stamford, Boston, Chicago, Cleveland, New York, Dallas, Los Angeles, and Toronto, with regional managing directors covering the Northeast, Midwest, Southwest, and West Coast.

Siena is a portfolio company of Franklin BSP Capital Corporation, an affiliate of Benefit Street Partners, which is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN). This provides Siena with a permanent or long-duration institutional capital base rather than a fund-life constraint, meaning it can hold assets as a buy-and-manage lender instead of being forced to syndicate or liquidate by a set fund maturity.

The firm offers facilities of $10 million to $100 million and can hold senior positions on its own balance sheet. While not a syndicated-loan house by design, the firm participates in club-style ABL transactions where another lender provides a complementary tranche or an agent bank brings Siena into a deal to add flexibility on advance structures. Its Franklin BSP backing makes it a reliable hold-level partner when a lead arranger needs non-bank capacity.

The core team — led by CEO David Grende and including senior originators and risk professionals — has worked together for more than 20 years, dating back to their time building Burdale Capital Finance at Bank of Ireland and, before that, various GE Capital and CIT platforms. The firm publicly states on its website that the Siena team has been together for 20+ years.