Rochester, MI, Sept. 14, 2017 – Hitachi Business Finance, a source of opportunity for entrepreneurs seeking solutions beyond traditional lending, recently provided $28.75 million to six growing U.S. companies seeking working capital solutions:
- $20 million participation facility to a finance company that offers middle market and late stage lending, as well as broadly syndicated loans.
- $3 million asset-based line of credit to a plastic injection mold company. With a new and larger source of working capital, the company will pay off their existing lender and use the remainder to invest in the growing company.
- $2.5 million asset-based line of credit to a returning client that works in the HVAC industry. The financing from Hitachi Business Finance will allow the owners to pay down their bank line and fund daily operations.
- $2 million A/R financing to a commercial printer to pay off the existing lender, improve operations, and hire additional sales staff.
- $1 million asset-based line of credit to a private equity-owned product design and development firm. With a new source of funding, the company now has additional availability and plans significant operational improvements.
- $250,000 A/R financing to a newly-established staffing firm that is expecting significant growth within the next six months. As a young company, the owners were facing challenges securing bank financing and discovered Hitachi Business Finance online.
“Just this summer, we welcomed back a previous client, entered into a syndication lending facility, helped a small entrepreneurial company continue on its path to profitability, and more,” says President and COO Mike Semanco. “Plus, we are servicing a line of credit for another lender and plan on participating in that loan in the upcoming fourth quarter.
“There really is no limit as to how asset-based lending can help companies of all sizes grow. And regardless of the need, asset-based lending will continue to be an instrumental component to businesses that are looking to finance their operations with the use of their own collateral.”
About Hitachi Business Finance
Hitachi Business Finance is a source of opportunity and information 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.
Visit us at www.hitachibusinessfinance.com for more information.
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.