White Oak Commercial Finance provided an $8 million credit facility to a global automotive supplier specializing in the designing, engineering and manufacturing of mechatronic systems and lightweight solutions.
“We are thrilled to close this credit facility and look forward to working with the company through the next phase of its growth and beyond,” David Montiel, head of originations at White Oak Commercial Finance, said.
Through this recent factoring facility with inventory advances, White Oak enabled the automotive supplier to fund its working capital requirements, particularly as it restarted production at its manufacturing plants following the disruption caused by the COVID-19 pandemic.
White Oak Commercial Finance is a global financial products and services company providing asset-based lending, full-service factoring, invoice discounting, government contract financing, supply chain financing, inventory financing, U.S. import/export financing, trade credit risk management, account receivables management and credit and collections support.
