The Singing Machine Company, a designer and distributor of consumer karaoke products, closed a $2 million senior credit facility with Oxford Commercial Finance, a subsidiary of Oxford Bank.
Oxford Commercial Finance implemented strategic leadership changes aimed at providing enhanced strategic direction and oversight. Mick Goik will transition to the role of executive chairman of the board of directors, while Steve Tomasello will assume the role of president.
Mick Goik, the current president of Oxford Commercial Finance, will transition to the role of executive chairman of the board of directors, while Steve Tomasello, currently a senior vice president and national sales manager, will assume the position of president.
Oxford Commercial Finance, a subsidiary of Oxford Bank, recorded $64 million in funding for small and mid-sized businesses in 2023, its first full year in business.
Oxford Commercial Finance recently funded a $750,000 accounts receivable purchase for a Florida-based UV disinfectant company specializing in the UV disinfection of air and water.
Oxford Commercial Finance provided a $2 million asset-based loan to a Washington-based technology company specializing in data security and physical data protection.
Oxford Commercial Finance provided a $2MM asset-based loan to a California-based media company specializing in marketing and advertising content across various media platforms.
Anne Mask joined Oxford Commercial Finance as vice president and business development officer. In this role, Mask will oversee outbound sales, including helping entrepreneurs in alleviating cash flow challenges with financing facilities to achieve short- and long-term goals.
Oxford Commercial Finance provided a $5 million asset-based line of credit to a New Jersey-based healthcare technology company that specializes in telehealth and virtual care platforms.
Oxford Commercial Finance recently provided a $3.5 million asset-based loan to a technology company in Arizona that specializes in payment technology and secured communications.