White Oak Commercial Finance Helps Small- and Mid-Sized U.S. Importers Prepare for Chinese New Year Factory Shutdown
Factoring Client, Dear John Denim, Receives Increased Funds to Ensure that Goods are Created and Shipped from China Prior to the New Year
NEW YORK, Dec. 14, 2017 /PRNewswire/ -- In February, many factories in China will close for as long as four weeks in celebration of the New Year which begins on February 16, 2018. In order for retail goods produced in China to make it to the U.S. in time for the Spring season, importers must ensure that their goods are produced, paid for and shipped prior to the shutdown, which can put cash flow strain on their business.
White Oak Commercial Finance (WOCF) – one of the nation's leading lenders to the middle-market – helps to minimize this potential strain by providing the trade finance solutions to enable importers to pay their suppliers in a timely fashion.
"We recognize the potential issues that the Chinese New Year factory shutdown can pose for small- and mid-sized businesses," said Robert Grbic, President and Chief Executive Officer of WOCF. "Seasonally accelerated payments to vendors can strain an importer's liquidity. We understand these needs and have the products and staff to provide flexibility and creative solutions for those companies that buy goods directly from Chinese suppliers."
For fast-growing wholesaler, Dear John Denim, Inc., this program is critical for the Company to prepare for its busiest seasons (Spring and Summer). The long-time client turned to WOCF for an increase in its line of credit to pay its suppliers ahead of the Chinese New Year.
Vincent Yeung, President of Dear John Denim, Inc., said: "This is the second year that WOCF has supported us during the Chinese New Year period. Without their support, there is no way we could ensure that our merchandise would reach the U.S. in time. WOCF's partnership has been critical in supporting us through seasonal periods like this, as well as providing us the working capital we need daily to help fuel our growth."
Formerly Capital Business Credit, WOCF was acquired by White Oak Global Advisors, LLC on behalf of its institutional clients in late 2016. Today WOCF has over $300 million of assets deployed with office locations in New York, Charlotte, Chicago, Fort Lauderdale, Los Angeles, Hong Kong and Shanghai.
ABOUT WHITE OAK COMMERCIAL FINANCE, LLC
White Oak Commercial Finance, LLC is a global financial products and services company providing credit facilities to middle market companies between $1 -$30 million. WOCF's solutions include asset-based lending, full-service factoring, invoice discounting, supply chain financing, inventory financing, U.S. import/export financing, trade credit risk management, account receivables management and credit and collections support. WOCF is an affiliate of White Oak Global Advisors, LLC, and its institutional clients. More information can be found at www.whiteoaksf.com.
ABOUT WHITE OAK GLOBAL ADVISORS, LLC
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors, LLC's disciplined investment process aims to deliver risk-adjusted investment returns for our investors while establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.
SOURCE White Oak Commercial Finance, LLC
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