White Oak Commercial Finance, an affiliate of White Oak Global Advisors, provided a $20 million factoring facility to a telecommunications company. The facility will allow the company to continue its growth and its supplying of tablets and data to qualified consumers under the Affordable Connectivity Program (ACP).
The ACP is a long-term, $14 billion program that seeks to provide internet connectivity to disenfranchised communities. The program, focused on providing affordable, reliable, high-speed broadband connections across the country, has already benefitted 17 million households.
“Leveraging our extensive knowledge of government supported businesses, we were able to quickly and effectively engage with the management team and identify the business’ needs, then offer a financial solution that supports the company’s robust growth,” Martin Efron, managing director of portfolio management at White Oak, said. “We are proud to help the company continue to improve access to high-speed internet under the ACP.”
