White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced today that the firm has provided a $4 million non-recourse factoring facility to a leading menswear company.
The borrower company boasts 30 years’ experience in the development, design and production of high-quality menswear, and is a family-run business with an extensive background in international sourcing and production.
“In the current economic environment, wholesale companies find themselves carrying more inventory, and subsequently have a greater need for liquidity and working capital,” said Ethan Rosenblum, Senior Vice President of Originations at White Oak Commercial Finance. “As a storied firm of high-quality services and a robust network of vendor relationships, the borrower in this transaction was the perfect candidate for our offerings. Our understanding of the retail sector and its challenges allowed us to provide the borrower with a customized lending facility that best addressed their unique needs.”
The funds provided by White Oak will be used to support continued growth for the company and provide the liquidity needed to defend against the typical seasonality of the men’s apparel business. The facility was lent against the company’s inventory and accounts receivable.
About White Oak Commercial Finance, LLC
White Oak Commercial Finance, LLC (WOCF) is a global financial products and services company providing credit facilities to companies across the economy. WOCF’s solutions include asset-based lending, full-service factoring, lender financing, invoice discounting, government contract financing, supply chain financing, inventory financing, US import/export financing, trade credit risk management, account receivables management and credit and collections support. The firm has offices and personnel throughout the US, UK, and Australia. WOCF is an affiliate of White Oak Global Advisors, LLC and its institutional clients. More information can be found at www.whiteoaksf.com/commercialfinance.
About White Oak Global Advisors, LLC
White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in originating and providing financing solutions to support small and middle market enterprises at every stage of their lifecycle. WOGA and its financing affiliates optimize capital structure based on available assets and cash flow and provide over twenty lending products to the market that include term, asset-based, and equipment loans. Since its inception in 2007, WOGA and its affiliates have deployed over $10 billion across its product lines, utilizing a hands-on, disciplined investment process that focuses on delivering risk-adjusted investment returns to investors, while establishing long-term partnerships with its borrowers. More information can be found at www.whiteoaksf.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220914005136/en/
Contacts
Spencer Tait
Prosek Partners (on behalf of White Oak Global Advisors)
pro-whiteoak@prosek.com
