White Oak Commercial Finance provided a $15 million factoring facility to Mias Fashion, an innovator in full package apparel manufacturing and global sourcing.
Since 1999, Mias Fashion has 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.
“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 CEO, 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.”