White Oak Commercial Finance, an affiliate of White Oak Global Advisors, provided a $4 million non-recourse factoring facility to a menswear company.
The borrower company boasts 30 years’ experience in the development, design and production of high-quality menswear, and is a family-run business with an extensive background in international sourcing and production.
“In the current economic environment, wholesale companies find themselves carrying more inventory, and subsequently have a greater need for liquidity and working capital,” Ethan Rosenblum, senior vice president of originations at White Oak Commercial Finance, said. “As a storied firm of high-quality services and a robust network of vendor relationships, the borrower in this transaction was the perfect candidate for our offerings. Our understanding of the retail sector and its challenges allowed us to provide the borrower with a customized lending facility that best addressed their unique needs.”
The funds provided by White Oak will be used to support continued growth for the company and provide the liquidity needed to defend against the typical seasonality of the men’s apparel business. The facility was lent against the company’s inventory and accounts receivable.
