- Kristopher Fraser |
White Oak Commercial Finance, one of the nation's leading lenders to the middle market, has announced they have provided a 15 million dollar factoring facility to Mias Fashion, an innovative leader in full package apparel manufacturing and global sourcing.
Since 1999, Mias Fashion has produced products for many of the nation's leading brands and retailers. The company is headquartered in Santa Fe Springs, California with global operations in South Korea, Mexico and Vietnam. The 15 million dollars line of credit secured against accounts receivable and inventory will be used to facilitate growth and provide additional access to working capital. WOCF is the sole lender.
Peter Ahn, president and CEO of Mias Fashion said, "During the tough retail market condition, WOCF stepped above the rest with an innovative funding structure. With the facility provided by WOCF, Mias Fashion is able to entertain new opportunities to expand our business."
"As innovative companies require more creative financing solutions beyond what traditional banks are able to offer, they are increasingly turning to WOCF for their borrowing needs," said Robert Grbic, president and CEO of WOCF.
Grbic added, "For decades our California office has provided access to financing to wholesalers, manufacturers and importers serving the retail sector. Deals like this are a testament to our seasoned team, our ability to identify value in companies, and our innovative products that adapt to market conditions."
WOCF, formerly Capital Business Credit, was acquired by White Oak Global Advisors, LLC in late 2016. Today WOCF has over 300 million dollars of assets deployed with office locations in New York, Charlotte, Chicago, Fort Lauderdale, Los Angeles, Hong Kong and Shanghai.