White Oak Commercial Finance announced it provided a $20 million Receivables Financing Facility to a global manufacturing company that provides innovative product components to the healthcare and consumer goods industries.
 
The transaction was structured as a recourse factoring facility, which will be used by the company to pay down existing debt and increase its cash on hand as it manages through the impact of the COVID-19 pandemic.
 
White Oak was able to step in during a time of uncertainty and meet the immediate financing needs of the company with a scalable solution after the originally proposed commercial-banking lender withdrew from the process at the onset of the pandemic. White Oak was also able to work with the company’s existing institutional term lenders to structure the facility within the allowed carve-out for receivables financing.