Hana Financial Announces an Investment by YESCO Co. Ltd., an Affiliate of LS Group

LOS ANGELES–(BUSINESS WIRE)–Hana Financial, Inc., one of the largest non-bank specialty commercial lenders in the nation, today announced that the investment arm of YESCO Co. Ltd. has acquired the full outstanding amount of 3-year fixed-rate term notes previously issued to an investment group led by Wedbush Opportunity Partners (now TCW Sepulveda).

Hana Financial is one of the top ten largest factoring companies in the U.S., and the third largest factor on the West Coast. Since its inception, Hana Financial had over $20 billion in total factoring volume. In addition to its factoring business unit, Hana Financial’s subsidiary, Hana Small Business Lending, Inc. (HSBL), is a leader in U.S. SBA 7(a) loans. HSBL is one of the top 30 SBA 7(a) lenders in the U.S., and the second largest non-bank SBA lender in the country. Since obtaining its license in 2007, HSBL has originated more than $750 million in SBA loans.

YESCO Co. Ltd. is an affiliate of LS Group, which spun off from LG Group in 2003. LS Group is one of the largest diversified conglomerates in South Korea. The investment arm of YESCO was formed in 2016.

Contacts:

Sunnie Kim

President and CEO

Hana Financial, Inc.