TSL Express Daily News
The Secured Lender
SFNet's 40 Under 40 Awards Issue
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June 20, 2024
Source: White Oak Commercial Finance
NEW YORK--(BUSINESS WIRE)--White Oak Commercial Finance (“WOCF”), an affiliate of White Oak Global Advisors, today announced the upsizing of a $10 million factoring facility to a leading worker management software company by an additional $15 million. The now $25 million factoring facility will serve as working capital to support the company’s growth in the artificial intelligence space.
“We are excited to expand our partnership with this cutting-edge company and provide them with the financing solutions needed to support their rapid development within the ever-evolving artificial intelligence space,” said Martin Efron, Head of Factoring at WOCF. “As we approach the second half of 2024, we look forward to fostering and deepening collaborations with companies that show strong growth trajectories in sizable markets.”
WOCF closed the original $10 million factoring facility in December of 2023, supporting the company’s expansion following a successful equity raise. This upsizing reflects WOCF’s continued momentum in offering flexible financing solutions for emerging companies as they scale.
About White Oak Commercial Finance
White Oak Commercial Finance, LLC is an affiliate of White Oak Global Advisors, LLC (“WOGA”) and provides financial solutions including asset-based lending, full service factoring, lender financing, invoice discounting, government contract financing, supply chain financing, inventory financing, US import/export financing, trade credit risk management, accounts receivable management and credit/collections services. The firm has offices and personnel throughout the US and Australia. White Oak Global Advisors, LLC and its financing affiliates provide over twenty lending products to the market that include term, asset-based, and equipment loans. Since its inception in 2007, WOGA and its affiliates have deployed over $11 billion. More information can be found at www.whiteoaksf.com/commercialfinance.
Contacts
Jake Forrestal
Prosek Partners (on behalf of White Oak Global Advisors)
pro-whiteoak@prosek.com
