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White Oak Commercial Finance Expands into Services Sector With $45MM in New Loans

September 26, 2017, 08:01 AM
Filed Under: Services

White Oak Commercial Finance, LLC  announced that it has recently closed two new Asset-Based Loan Facilities for Houston-based service businesses – the first, to a preeminent provider of environmental clean-up services and industrial safety solutions and the second, to a growing company in the oilfield service sector.

WOCF has provided the environmental service company with a $20,750,000 three-year facility that will enable the company to refinance and consolidate debt, make needed equipment purchases, and satisfy the working capital demands of the business. This credit facility will meet the needs of the business today and provide for future growth. WOCF is the sole lender.

The $25,000,000 Asset-Based Facility is for a company providing both wireline and artificial lift services for oil well operators. This company is owned by a major Private Equity Fund and is experiencing strong demand for their services. The facility will be used to support working capital growth and future expansion into new markets demanding this crucial service. WOCF is the sole lender.
“An increasing number of companies in the middle market are turning to WOCF to support their business objectives and growth,” said Robert Grbic, President and Chief Executive Officer, White Oak Commercial Finance. “Our deep expertise in complex financing structures, combined with our creative and flexible approach, makes us an attractive partner to organizations that require quick access to financing.”

Gerard Hanabergh, Managing Director, White Oak Commercial Finance, stated, “The WOCF platform is proving to be extremely attractive to services companies across a variety of industries in need of working capital solutions. Our strong underwriting capabilities, combined with an experienced management team and the fact that we are not tethered to a bank, is a powerful combination that is resonating in the marketplace.”

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