FINANCE
Capital Business Credit Gets a Name Change
Five months ago, White Oak Global Advisors acquired Capital Business Credit, known for its asset-based lending portfolio.
Now White Oak Global is renaming Capital Business Credit White Oak Commercial Finance.
“The White Oak Commercial Finance platform will provide asset-based loans, equipment financing, factoring, working-capital solutions and credit services, ranging from $1 million to $100 million, to small- and middle-market companies,” said Andre Hakkak, White Oak Global’s cofounderand chief executive, who is based in San Francisco. “This provides a great number of companies with access to more capital and services than previously offered by either White Oak or CBC individually.”
Robert Grbic, formerly of Capital Business Credit, established in 1988, will be the president and chief executive officer of White Oak Commercial Finance. Andrew Tananbaum will serve as the executive chairman.
When White Oak took over Capital Business Credit in December, it acquired CBC’s existing loan portfolio comprising more than $300 million of assets employed as well as office locations in New York; Los Angeles; Hong Kong; Shanghai; Charlotte, N.C.; and Ft. Lauderdale, Fla.
Now the combined entities also have offices in San Francisco, Chicago, Atlanta and Denver.
