White Oak Commercial Finance provided a $15 million factoring facility to a supplier of parts for the automotive aftermarket.

The transaction was structured against the company’s accounts receivable, and the proceeds will be used to support its rapid growth and working capital.

“White Oak is proud to deliver a custom solution to a company that supports such an important sector of our economy,” said White Oak Managing Director David Montiel. “Our in-depth knowledge of the auto industry and scalable suite of products will help the supplier meet growing market demand.”

“Our hands-on approach allowed us to understand the company’s short and long-term working capital needs, and we were able to construct a flexible facility that will help the business achieve its growth objectives,” said White Oak Executive Vice President Martin Efron.