NEW YORK, Nov. 1, 2017 /PRNewswire/ -- White Oak Commercial Finance, LLC (WOCF), one of the nation's leading lenders to the middle market, announced today that it has provided a $15 million factoring facility to Mias Fashion, an innovative leader in the full package apparel manufacturing and global sourcing.
Since 1999, Mias Fashion has efficiently produced high-quality products for many of the nation's leading brands and retailers. The company is headquartered in Santa Fe Springs, CA with global operations in South Korea, Mexico and Vietnam. The $15 million line of credit secured against accounts receivable and inventory will be used to facilitate growth and provide additional access to working capital. WOCF is the sole lender.
Peter Ahn, President and CEO of Mias Fashion said, "During the tough retail market condition, WOCF stepped above the rest with an innovative funding structure. With the facility provided by WOCF, Mias Fashion is able to entertain new opportunities to expand our business."
"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," said Robert Grbic, President and Chief Executive Officer, WOCF.
Grbic added, "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, 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.
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SOURCE White Oak Commercial Finance, LLC