White Oak Commercial Finance Provides $4.5 Million in Factoring and ABL-Based Credit Facilities to Three Aerospace Businesses

White Oak Commercial Finance, LLC, an affiliate of White Oak Global Advisors, has announced its Government Contracting Finance Division has provided $4.5 million in factor and asset-based lending (ABL)-based credit facilities to three aerospace businesses serving US Defense agencies. The companies, located in Washington State and Virginia, received funding to support their working capital and payroll needs, hire staff, and increase research and development efforts. This funding will enable them to compete for large contracts and enhance their mission of keeping the country secure.

Key Takeaways:

• White Oak Commercial Finance provided $4.5 million in factoring and ABL-based credit facilities to three aerospace businesses providing specialized services to US Defense agencies.
• The first company, a veteran-owned startup in Washington State, received a $1.5 million factoring facility to fund its working capital and payroll needs in support of its Federal Government contracts.
• The second company, a Virginia-based engineering firm, received a $2 million asset-based lending facility to compete for and service large contracts and increase its R&D efforts.
• The third company, a Virginia-based developer of autonomous, solar-powered flight vehicle systems, received a $1 million factoring facility to fund its working capital needs and increase hiring in support of its Federal Government contracts.
• The funding will enable the companies to meet contract demands, create jobs, and support their mission of keeping the country secure.
• White Oak Commercial Finance's solutions include asset-based lending, full-service factoring, invoice discounting, government contract financing, supply chain financing, inventory financing, and trade credit risk management.

Statistics:

• $4.5 million in factoring and ABL-based credit facilities provided to three aerospace businesses
• $1.5 million factoring facility provided to the first company
• $2 million asset-based lending facility provided to the second company
• $1 million factoring facility provided to the third company
• 3 aerospace businesses receiving funding
• 2 companies based in Virginia
• 1 company based in Washington State
• 3 federal government contracts supported

Sources:

• White Oak Commercial Finance, LLC
• White Oak Global Advisors, LLC
• www.whiteoaksf.com/commercialfinance
• www.whiteoaksf.com