White Oak Commercial Finance, an affiliate of White Oak Global Advisors, provided a $10 million non-recourse factoring facility to a manufacturer and importer of private label apparel products.
The transaction was structured with advances against the company’s accounts receivable. The company will use the proceeds of the facility for working capital.
“We took a hands-on approach to understand the company’s short and long-term goals and recognized its unique strengths,” Ethan Rosenblum, vice president of White Oak Commercial Finance, said. “Our retail know-how enabled us to find a creative structure to help the business achieve and exceed pre-pandemic volume and profitability.”