White Oak Commercial Finance

Best for: Middle-market companies with millions in receivables and inventory that need a revolver of $10 million or more, including for recapitalizations, turnarounds, acquisitions or cross-border borrowing bases.

Not for: Businesses needing under about $2.5 million, wanting a published price, or with little receivables or inventory to pledge; invoice factors fit them better.

Lender List verdict: White Oak Commercial Finance is an established nonbank asset-based lender that structures large, flexible facilities, including stretch advances and loans against brands, across the U.S., U.K. and Australia. Expect unpublished, negotiated pricing above bank ABL and full collateral monitoring.

White Oak Commercial Finance at a glance

White Oak Commercial Finance (WOCF) provides asset-based working capital facilities from $10 million to $250 million or more.

What is White Oak Commercial Finance?

White Oak Commercial Finance is the asset-based lending arm of White Oak Global Advisors, an alternative credit manager founded in 2007. WOCF began in 1988 as Capital Business Credit, a New York factor and ABL lender that White Oak bought in late 2016 and renamed in 2017.

In June 2024, WOCF absorbed White Oak ABL, LLC and closed a $1.1 billion Wells Fargo-agented bank facility. It lends to borrowers based in the U.S., Canada, the U.K. and Australia, and against assets in Mexico and selected European and Asian countries.

How White Oak Commercial Finance asset-based lending works

White Oak Commercial Finance lends against a borrowing base: set percentages of your eligible receivables, inventory and other assets.

• Revolvers and term loans: a revolving line against working capital, plus term loans against fixed assets.
• FILO, stretch and structured ABL: extra borrowing above standard advance rates, including against intellectual property and trademarks.
• Inventory and supply chain finance: funding to buy inventory or fill customer orders and contracts.
• Factoring and invoice discounting: you sell receivables for faster cash, with credit protection if a customer defaults.

How the borrowing base works

At White Oak Commercial Finance, available credit moves with your reported collateral.

1. Eligible new invoices and inventory join the borrowing base.
2. Advance rates apply to each asset class; you draw up to the total.
3. Customer payments reduce the revolver, freeing room to redraw.
4. Borrowing-base certificates (often weekly or monthly) and field exams verify collateral.

White Oak Commercial Finance rates and fees: what it really costs

White Oak Commercial Finance does not publish rates, advance rates or fees. Industry guides put nonbank ABL at 8% to 24% APR (Crestmont Capital) or into the mid-teens (Beancount), above bank ABL at Prime + 1% to Prime + 4%.

Typical ABL fees (Crestmont Capital):

• Origination: 0.5% to 2.5% of the facility
• Unused line fee: 0.25% to 0.5% of the undrawn amount, where charged
• Field exams: $1,500 to $5,000 each, once or twice a year
• Collateral monitoring: 0.25% to 0.75% of the outstanding balance per month
• Early termination: some facilities charge an exit fee

Worked example (our assumptions, not a WOCF quote): $8 million of eligible receivables at 85% plus $6 million of inventory at 50% gives a $9.8 million borrowing base ($6.8 million plus $3.0 million). On a $10 million revolver averaging $7 million drawn at 12%, year-one interest is $840,000. Add a 0.375% unused fee on $3 million ($11,250), a 1% origination fee ($100,000), two $5,000 field exams and collateral monitoring at 0.25% a month ($210,000), and the total is $1,171,250, about 16.7% of the average balance, or roughly 16.9% APR.

White Oak Commercial Finance requirements

White Oak Commercial Finance does not publish credit, revenue or time-in-business minimums; approval rests on the quality and size of your collateral.

Pros and cons

White Oak Commercial Finance offers size, structure and cross-border reach, but no published pricing.

Pros

• Facilities from $10 million to $250 million or more
• FILO and stretch advances plus lending against brands and trademarks
• One lender for U.S., U.K. and Australian assets, in multiple currencies
• Funds turnarounds, recapitalizations and acquisitions
• Factoring and supply chain finance under the same roof

Cons

• No published rates, fees or advance rates
• Nonbank pricing generally sits above bank ABL
• No public customer reviews to judge service

White Oak Commercial Finance vs. eCapital vs. Siena Lending Group

White Oak Commercial Finance and Siena Lending Group both reach $250 million, while eCapital starts lower at $5 million.

eCapital and Siena Lending Group figures are from their own sites, checked 2026-10-26.

Choose White Oak Commercial Finance for a structured or cross-border facility. Choose eCapital for factoring-led funding from $5 million. Choose Siena Lending Group for a larger ABL, DIP or exit loan.

White Oak Commercial Finance alternatives on Lender List

Businesses below White Oak Commercial Finance's minimum can use invoice factors.

• Liquid Capital — invoice factoring from $20,000 per funding
• SouthStar Capital — factoring and PO financing with no stated cap
• Riviera Finance — non-recourse invoice factoring
• Star Funding — factoring and purchase order funding
• Browse all asset-based lending and invoice factoring on Lender List

Frequently asked questions about White Oak Commercial Finance

White Oak Commercial Finance is an active nonbank lender offering asset-based facilities from $10 million upward.

Is White Oak Commercial Finance legit? Yes. WOCF dates to Capital Business Credit (1988), belongs to White Oak Global Advisors (founded 2007) and closed a $65 million ABL deal in April 2026. It has no BBB or Trustpilot profile; California's DFPI issued a 2019 revocation order and settlement involving its California affiliate.

Is White Oak Commercial Finance a direct lender? Yes. WOCF provides the facilities itself, backed by White Oak capital and a $1.1 billion Wells Fargo-agented bank facility, rather than brokering deals to other funders. It also monitors the collateral it lends against, and some deals pair its revolver with a term loan from a separate private credit lender.

What is the minimum loan at White Oak Commercial Finance? WOCF says its working capital facilities run from $10 million to $250 million or more, though its inquiry form starts at a $2.5 million band. Companies needing less will usually do better with an invoice factor or a smaller ABL lender.

Where is White Oak Commercial Finance located? WOCF is based at 1155 Avenue of the Americas in New York. White Oak also lists U.S. offices in San Francisco, Los Angeles, Charlotte, Miami, Boca Raton, Stamford and Chevy Chase, plus four in the U.K. and Ireland, and it lends to borrowers in Canada, Australia and Mexico.

Does White Oak Commercial Finance offer factoring? Yes. WOCF offers full-service factoring and invoice discounting, including credit protection if a customer defaults, plus recurring sales of receivables directly or through a special-purpose vehicle. Factoring is part of its heritage: Capital Business Credit was a New York factor before White Oak bought it.

Who owns White Oak Commercial Finance? WOCF is an affiliate of White Oak Global Advisors, LLC, an alternative debt manager co-founded by Andre Hakkak in 2007 that says it has deployed nearly $28 billion. White Oak bought Capital Business Credit in late 2016 and renamed it the following year.

Last verified 2026-10-26. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.