Rochester, MI, Oct. 11, 2016 – Hitachi Business Finance, a source of opportunity and information for entrepreneurs seeking solutions beyond traditional lending, recently provided $6 million in new financing to four companies across the U.S.
Of the clients that received financing, the first is a Midwestern auto supplier. The company is experiencing massive growth opportunities and was in need of financing to pay off an existing lender and have additional working capital availability. With a $3 million equipment term loan from Hitachi, the middle-market company now has a more comfortable cash position, can continue hiring additional employees, and will keep up with on-going customer demands.
Hitachi Business Finance also played a key role in helping a growing staffing company finance its new client base. Because the company does not have a significant operating history, a $250,000 A/R financing facility was the perfect solution. By advancing funds against the client’s invoices, the company has additional cash on hand quicker to secure new business and pursue additional growth initiatives.
“As the markets and the economy continue to change, we have seen an increased demand for additional financing solutions,” said Jeff Wright, senior vice president and business development officer. “By extending term loans secured by equipment to middle market companies, our clients now have access to yet another avenue of funding that will allow them to positively improve their cash flow.”
Other deals include:
- $250,000 A/R financing facility to a software communications company
- $2,500,000 line of credit to an automotive distributor
“There is no one-size-fits-all solution when it comes to financing,” says Mike Semanco, president and COO. “Just like every company has a different operating history and balance sheet, there are different financing solutions for different companies. As an asset-based lender, I see firsthand how the right loan can make a significant difference to a company’s continuing growth and success.”
About Hitachi Business Finance
Hitachi Business Finance is a source of opportunity and education for entrepreneurs seeking solutions beyond traditional lending. Backed by the global power of Hitachi Ltd., and with more than a decade of proven success, we offer asset-based financing designed to help improve a company’s cash position.
About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to commercial businesses and other Hitachi companies in the United States. We offer a variety of asset-based financing solutions with a focus on truck, trailer, and floorplan financing; trade financing; medium/small ticket financing; structured financing; vendor financing; and asset-based lending. Learn more at www.hitachicapitalamerica.com.