NEW YORK--(BUSINESS WIRE)--White Oak Commercial Finance (“WOCF”) and White Oak Europe (“WOE”), affiliates of White Oak Global Advisors (“White Oak”), today announced the closing of a new multicurrency credit facility of up to $125 million USD from Wells Fargo. The new facility will allow WOCF and WOE to finance UK-and Irish-based sponsored and non-sponsored borrowers as well as UK and Irish affiliates of US borrowers. WOCF and WOE will both originate new ABL transactions that can be funded under this facility. WOCF will service this facility from the United States.

“We’re grateful for Wells Fargo’s continued support as we further expand our ABL offerings on a global basis. The closing of this credit facility allows us to provide a one-stop global asset-based financing solution to new and existing borrowers while maximizing their borrowing capacity,” said Tom Otte, CEO of WOCF and Head of WOE.

WOCF provides ABL and factoring working capital solutions ranging from $5 million to more than $200 million and has a leverage facility from a syndicate led by Wells Fargo of more than $1 billion USD. WOE is a specialist in SME business finance, offering business loans for VAT, asset finance and invoice finance with over £500 million in credit facilities from multiple bank providers.

About White Oak Commercial Finance
White Oak Commercial Finance, LLC is an affiliate of White Oak Global Advisors, LLC (“White Oak”) and provides financial solutions including asset-based lending, full service factoring, lender financing, invoice discounting, government contract financing, supply chain financing, inventory financing, US import/export financing, trade credit risk management, accounts receivable management and credit/collections services. The firm has offices and personnel throughout the US and Australia. White Oak Global Advisors, LLC and its financing affiliates provide over twenty lending products to the market that include term, asset-based, and equipment loans. Since its inception in 2007, White Oak and its affiliates have deployed over $11 billion. More information can be found at www.whiteoaksf.com/commercialfinance.

About White Oak Europe
White Oak Europe is a leading lending platform, authorised and regulated by the Financial Conduct Authority which provides capital to support SMEs and mid-corporates through an extensive suite of flexible lending solutions - including commercial loans, asset finance and invoice financing. Founded in 1986 and headquartered in Chester, UK, White Oak Europe’s team of 160 supports over 20,000 businesses with their financing needs and holds a 4.9 Star rating on Feefo. White Oak Europe is an affiliate of White Oak Global Advisors, a debt manager providing financing solutions for SMEs. More information can be found at https://whiteoakeurope.com/.