Salem Media announces new $26M revolving credit facility with Siena Lending

Salem Media Group announced that it has closed a new $26.0M 3-year asset-based revolving credit facility with Siena Lending Group, which refinanced its prior revolving facility with Wells Fargo Bank. “Obligations under the New Revolving Facility are secured by a first-priority lien on the company’s and its subsidiaries’ accounts receivable, inventory, deposit and securities accounts, certain real estate and related assets, and a second-priority lien on substantially all other assets of the company and its subsidiaries,” Salem Media stated.