White Oak Commercial Finance launched a new asset-based lending offering designed for the staffing sector.
WOCF has been providing working capital financing products to staffing companies for decades and is now formalizing its staffing product given the tremendous demand in the market. WOCF will help staffing companies get the working capital they need to cover the gap in time between when a client pays the company and the company’s payment to its talent, as well as for managing overhead costs.
“As White Oak Commercial Finance continues to expand our asset-based lending offering and builds out a team of ABL experts, we see tremendous opportunities in the staffing sector,” said Robert Grbic, president and CEO of WOCF. “Our offices in New York and Los Angeles are well-positioned in geographic areas that have a high concentration of staffing companies. Combine this with an increasing number of staffing companies in the middle-market turning to our services, and there is an opportunity to create a dedicated offering.”
WOCF, formerly Capital Business Credit, was acquired by White Oak Global Advisors on behalf of its institutional clients in late 2016. WOCF currently has more than $300 million of assets deployed, with office locations in New York; Charlotte, NC; Chicago; Fort Lauderdale, FL; Los Angeles; Hong Kong and Shanghai.