NEW YORK--(BUSINESS WIRE)--White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, (“WOGA”) provided a $20 million factoring facility (“Facility”) to a leading 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,” said Martin Efron, Managing Director of Portfolio Management at White Oak. “We are proud to help the company continue to improve access to high-speed internet under the ACP.”
This Facility underscores the momentum of White Oak’s offerings and its significant recent activity, bringing total capital commitments by White Oak and other WOGA affiliates to $420 million in the past ten weeks.
ABOUT WHITE OAK
White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in originating and providing financing solutions to support small and middle market enterprises. WOGA 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 across its product lines. White Oak Commercial Finance, LLC is an affiliate of WOGA that 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 firms have offices and personnel throughout the US, UK, and Australia. More information can be found at www.whiteoaksf.com/commercialfinance.