NEW YORK--(BUSINESS WIRE)--White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced its Government Contracting Finance Division provided $4.5 million in factor and ABL-based credit facilities to three aerospace businesses providing specialized services to US Defense agencies.
The first is a veteran owned, service-disabled startup located in Washington State that provides intelligence, surveillance and reconnaissance services (ISR) to the global unmanned aircraft system (UAS) industry. It received a $1.5 million factoring facility to fund its working capital and payroll needs in support of its Federal Government contracts.
The second, a Virginia-based engineering firm providing specialized aerospace, communications and national-security solutions to US Department of Defense agencies, received a $2 million asset-based lending facility after outgrowing its existing financing with a community bank. The increased line of credit will allow them to compete for and service large contracts and increase its R&D efforts.
The third is a Virginia-based developer of autonomous, solar-powered perpetual flight vehicle systems that enhance government and commercial telecommunication and emergency efforts around the world. White Oak provided the firm with a $1 million factoring facility to fund its working capital needs and increase hiring in support of its Federal Government contracts.
“We’re honored to partner with these businesses dedicated to delivering groundbreaking aerospace systems to the US Department of Defense," said White Oak Head of Government Contract Financing, Kysha Pierre-Louis. “Our ability to provide them with flexible financing essential to meeting contract demands, creating jobs and supporting their mission of keeping the country secure brings us great pride.”
ABOUT WHITE OAK COMMERCIAL FINANCE, LLC
White Oak Commercial Finance, LLC is a global financial products and services company providing credit facilities to companies across the economy. WOCF’s solutions include asset-based lending, full-service factoring, invoice discounting, government contract financing, supply chain financing, inventory financing, US import/export financing, trade credit risk management, account receivables management and credit and collections support. The firm has offices and personnel throughout the US, UK, and Australia, including San Francisco, Charlotte, Washington D.C., Atlanta, Los Angeles, London, Glasgow, and Sydney. WOCF is an affiliate of White Oak Global Advisors, LLC, and its institutional clients. More information can be found at www.whiteoaksf.com/commercialfinance.
About White Oak Global Advisors
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers. For more information, visit www.whiteoaksf.com.