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White Oak Commercial Finance Unveils New ABL Offering Dedicated to Staffing Sector

November 28, 2017, 08:01 AM
Filed Under: New Venture

White Oak Commercial Finance, LLC (WOCF), a provider of lending services to the middle-market, announced that it has launched a new asset-based lending offering designed for the staffing sector.

WOCF has been providing working capital financing products to staffing companies for decades, and is now formalizing its staffing product given the tremendous demand in the market.  WOCF is committed to helping staffing companies get the working capital they need to cover the gap in time between when a client pays its staffing company and the company's payment to its talent, as well as for managing overhead costs.

"As White Oak Commercial Finance continues to expand our asset-based lending offering and builds out a team of ABL experts, we see tremendous opportunities in the staffing sector," said Robert Grbic, President and Chief Executive Officer of WOCF.  "Our offices in New York and Los Angeles are well-positioned in geographic areas that have a high concentration of staffing companies. Combine this with an increasing number of staffing companies in the middle-market turning to our services, and there is an opportunity to create a dedicated offering."

Gerard Hanabergh, Managing Director, WOCF, added, "We have the ability to customize products based on the unique needs of each staffing firm client, and complete underwriting quickly to get them funded fast. As the gig economy gains more traction and workers look for more flexibility, companies are increasingly turning to staffing firms and WOCF is ready, willing and able to fund that growth."

WOCF, formerly Capital Business Credit, was acquired by White Oak Global Advisors, LLC on behalf of its institutional clients in late 2016. Today WOCF has over $300 million of assets deployed with office locations in New York, Charlotte, Chicago, Fort Lauderdale, Los Angeles, Hong Kong and Shanghai.

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