San Francisco-headquartered alternative financier White Oak Global Advisors has acquired Federal National Commercial Credit (FNCC), a firm providing receivable financing, commercial factoring and asset-based loans to small and middle-market companies.

The acquisition will allow White Oak to expand its asset-based lending product offerings and capabilities to serve new government and factoring clients.

White Oak CEO Andre Hakkak says: “White Oak is focused on growing its asset-based lending platform to serve the tens of thousands of companies that require debt financing in the US and globally that are currently underserved by traditional capital sources. FNCC has built a strong business serving companies in key markets across the US and, combined with the White Oak platform, we believe we can expand FNCC’s offerings to more businesses with a larger array of credit products.”

FNCC’s senior leadership team – Kwesi Rogers, CEO, and Kysha Pierre-Louis, chief credit officer – will continue to lead the business from Bethesda, Maryland. Rogers, who has been with FNCC since its inception in 1992, will be the CEO of White Oak Business Capital, which FNCC will become known as.

White Oak Global Advisors specialises in originating and providing credit financing solutions to facilitate the growth, acquisitions, refinancings and recapitalisations of SMEs. In 2016, the firm acquired Capital Business Credit, a global financial products and services company providing service factoring, invoice discounting, supply chain financing, inventory financing, US import and export financing and trade credit risk management, today renamed White Oak Commercial Finance.