Flower Mound, TX, January 24, 2023 – Mitsubishi HC Capital America announces that the company is expanding its commercial specialty vehicle financing solutions, specifically aimed at fire and emergency vehicles, wreckers, and shuttle/transit buses. The company’s sizable lending resources and the deep expertise of its inventory finance team – led by industry veteran Gary Furnas – allows manufacturers, dealers and upfitters in the specialty vehicle market access to a trusted and flexible floorplan lender.
Furnas, Vice President and General Manager, Inventory Finance, stated, “We see a tremendous need in this market. Our consultative approach is a superb value-add as we work to create a collaborative, customized financing solution that helps generate business growth opportunities. By offering individualized inventory financing programs, we enable our customers to meet their goals and build strategies to accomplish more.”
Inventory finance goes by many names in the industry, including floor planning and wholesale finance. As a form of asset-based lending, the amount borrowed is determined by the value of the inventory. Wholesale finance lenders can advance rates at 100 percent of a dealer’s invoice amount for new inventory as a line of credit. Benefits include improved cash flow, reduced capital requirements, and expanded inventory stocking levels for dealers. Additionally, inventory finance reduces open account risk and administration for OEMs, upfitters, and chassis suppliers, enabling them to turn their receivables into cash. “As a non-bank wholesale finance lender, Mitsubishi HC Capital America can provide quick credit decisions and expedited funding. We’re here with the expertise, the willingness to do deals, and flexible terms,” Furnas added.
Mitsubishi HC Capital America’s simple, yet comprehensive approach to floorplan finance facilitates the success of OEMs, distributors, and dealers, boosting purchasing power, driving sales growth, and enhancing liquidity. To learn more, call 817-402-4572 or visit https://www.mhccna.com/en-us/solutions/inventory-finance
About Mitsubishi HC Capital America
Mitsubishi HC Capital America is a specialty finance company that brings a consultative approach and expertise to customers of all sizes to help their businesses grow every day. Serving as a collaborative partner, we provide customized financing solutions throughout North America for a wide range of industries, including manufacturing, construction, work trucks/transportation, IT, staffing, healthcare and clean technology/mobility. We are committed to the United Nations Sustainable Development Goals to improve the communities where we operate. Visit https://www.mhccna.com/en-us
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