Mark Simshauser, Senior Origination Leader
At Hitachi Business Finance, we are driven by the relationships we create with our clients. We pride ourselves on working closely with them and forming a strong, lasting rapport. Our team is here to help create a customized financial solution that would best fit your company’s specific business needs. Now it is time for you to learn more about each of us! Check out our “Getting to Know” blog.
Meet Mark Simshauser, Senior Origination Leader for Hitachi Business Finance. Based in the greater New York region, Mark works with business owners and trusted advisors as a resource to determine the most effective means to accessing capital for growing businesses. He is a 20-year finance industry professional, with extensive experience in asset-based, factoring, and commercial lending.
Keep reading to get to know Mark better!
What advice do you have for small business owners?
As an independent financing source to smaller companies with a big name behind it in Hitachi, we pride ourselves on supporting the small business owner. Many businesses may be overlooked by the larger money center banks, and these business owners need to have multiple sources of liquidity and working capital providers.
Now, living in the difficult economic challenges that COVID-19 have bestowed upon us as a nation, small business owners will need all of the financial support that they can have access to. It’s my job to let them know that Hitachi Business Finance is here, open for business, and provide financing options for them.
How can Asset-based Lending help, both during this time and when the economy has improved?
The asset- based lending (ABL) solution fits well into challenging economic times. When the economy weakens, many traditional banks tighten credit boxes and lending parameters. Because we are collateral driven, a business owner’s collateral could mean additional liquidity and capital into the operations. Where the traditional bank ends in providing liquidity under an ABL structure, our credit experience and success in lending into these situations will drive that company’s “turn” or refinancing event. Even when the economy rebounds and improves, many small businesses will remain under this lending structure due to its tighter collateral and cash controls, allowing the owner to concentrate on other important issues facing the company. So, in good times and bad times, Hitachi Business Finance will be provides the capital that small businesses need.
What makes Hitachi Business Finance different than the competition?
When business owners are in the market to finance their companies, it is important that they have access to senior management and key decision makers in this important event of refinancing or restructuring their finances of the business. At HBF, the flat management style that we operate under can make a business executive feel very welcomed and inviting. No two lenders are the same. At HBF, how we look at a company and how we interact with them before the financing and after they become clients makes us different from everyone else. It is the personal attention and “going the extra mile” that will drive HBF’s reputation and financing relationships.
What does your typical work day consist of?
A typical day for me i my role for HBF can be defined as “upshifting and downshifting.” One minute I am analyzing financials and digging into collateral reports, and the next I am on a kick-off call with a business owner discussing how Hitachi Business Finance can assist the company with their financing initiatives. No one day is ever the same. When you are on the front lines and love what your do and enjoy the team you’re with……….the days go fast and quickly but always end with a smile.
Fun fact(s) about yourself
Born and raised in Upstate NY, I grew up playing hockey in a small town outside of Syracuse, NY. When I was all of nine years old, the squirt hockey team I was on won the NY State Championship. We were then invited to play in a National Hockey Tournament in Detroit, MI. My team from Clinton, NY played against the Little Caesers team from Grosse Pointe, MI and I played against Michael Ilitch, Jr. Too bad we lost the game by one goal…..it was a great experience that I will never forget. The youngest of three boys, I had to be fast on my feet and skates to outrun my older and bigger brothers.
What do you like to do in your spare time?
Being a father to a boy that loves to play football, I practice with my son on the weekends. My son Erik goes to Oceanside High School, a very large school on Long Island where he plays the center position on the football team. If I’m not out taking blocks from Erik, I enjoy spending time at the beach during the summer with my wife, son and daughter. Too bad the summers are so short in New York!