White Oak provides factoring facility to US clothing company
White Oak Commercial Finance (WOCF) has provided a US$15mn factoring facility to apparel manufacturer and distributor Mias Fashion.
The credit line was secured against accounts receivable and inventory, and will be used to facilitate growth and provide additional access to working capital.
Californian-headquartered Mias Fashion produces fashion for many of the US’ leading brands and retailers. It also has operations in South Korea, Mexico and Vietnam.
“As innovative companies require more creative financing solutions beyond what traditional banks are able to offer, they are increasingly turning to WOCF for their borrowing needs,” says Robert Grbic, president and CEO of WOCF.
He adds: “For decades our California office has provided access to financing to wholesalers, manufacturers and importers serving the retail sector. Deals like this are a testament to our seasoned team, our ability to identify value in companies, and our innovative products that adapt to market conditions.”
WOCF, formerly Capital Business Credit, is a global financial products and services company providing credit facilities to middle-market companies between US$1mn and US$30mn.
The company was acquired by White Oak Global Advisors on behalf of its institutional clients in late 2016. Its solutions include full-service factoring, invoice discounting, supply chain financing, inventory financing, US import and export financing and trade credit risk management.
WOCF has over US$300mn of assets deployed, with office locations in New York, Charlotte, Chicago, Fort Lauderdale, Los Angeles, Hong Kong and Shanghai.take me back