NEW YORK CITY — November 1, 2017 — White Oak Commercial Finance LLC (WOCF) announced today that it has provided a $15 million factoring facility to Mias Fashion, an innovative leader in the full package apparel manufacturing and global sourcing.
Since 1999, Mias Fashion has efficiently produced high-quality products for many of the nation’s leading brands and retailers. The company is headquartered in Santa Fe Springs, Calif., with global operations in South Korea, Mexico and Vietnam. The $15 million line of credit secured against accounts receivable and inventory will be used to facilitate growth and provide additional access to working capital. WOCF is the sole lender.
Peter Ahn, president and CEO of Mias Fashion said: “During the tough retail market condition, WOCF stepped above the rest with an innovative funding structure. With the facility provided by WOCF, Mias Fashion is able to entertain new opportunities to expand our business.”
“As innovative companies require more creative financing solutions beyond what traditional banks are able to offer, they are increasingly turning to WOCF for their borrowing needs,” said Robert Grbic, president and CEO, WOCF.
“For decades our California office has provided access to financing to wholesalers, manufacturers and importers serving the retail sector. Deals like this are a testament to our seasoned team, our ability to identify value in companies, and our innovative products that adapt to market conditions,” said Grbic.
Posted November 1, 2017
Source: White Oak Commercial Finance