Mitsubishi HC Capital America, the largest non-bank, non-captive commercial lender in North America with more than $7.5 billion in owned and managed assets, announced it is significantly expanding its Transportation Division following the company’s successful integration with ENGS Commercial Finance and Mitsubishi HC Capital America (U.S.A.) on April 1.
With this integration, Mitsubishi HC Capital America is now the only transportation lender with deep expertise in light duty, medium duty and heavy-duty class 1- 8 truck financing. In addition, Mitsubishi HC Capital America offers easy cross-border class 1-8 financing solutions into Canada through its subsidiary, Mitsubishi HC Capital Canada.
Mitsubishi HC Capital America’s Transportation Division operates under one of the company’s two primary operating businesses, the $3.9 billion Vendor Solutions business. “These expanded resources come at an advantageous time for us and our customers,” said Jim Freund, President of Vendor Solutions. “The transportation banking and lending community is turbulent right now. With Mitsubishi HC Capital America being a non-bank with deep resources, we do not feel the impact that others are feeling. We remain committed and active in helping our customers grow with our industry-leading financial solutions. We are well positioned to increase our market leadership with even more robust financial solutions, including retail loans, leases and inventory financing, insurance and working capital for all commercial vehicle customers. We will also be expanding the use of our award-winning proprietary digital platform, Propel, and enhance the customer finance experience with greater ease of use, speed and convenience.”
The Transportation Division is led by industry veteran Kirk Mann, Executive Vice President and Head of Transportation, Vendor Solutions. Mann is joined by Ann Brodette, Senior Vice President of Sales, Eastern Region and Dave Herring, Senior Vice President of Sales, Western Region.
“I’m extremely pleased to have the decades of knowledge and experience of Kirk, Ann and Dave leading our Transportation Division. There is no better team in the market. They know exactly what is needed to take care of our clients. And they will deliver,” Freund said.
Mann served as Senior Vice President and GM of Transportation Finance at Mitsubishi HC Capital America, which he joined in 2017. He has held sales, marketing, and business development leadership roles in the transportation sector over his 30 plus-year career.
“It’s exciting to have the opportunity to provide our dealer partners and customers with financial solutions that help them grow their own businesses,” said Mann. “As an experienced, non-bank lender, our stability and appetite to do deals when traditional lenders are tightening their credit availability such as now makes us an attractive and critical option for the transportation market.”
In addition to traditional financing, Mitsubishi HC Capital America also provides consultative services to help OEMs looking to establish a dealer network, and to dealers and end-user customers looking to attain their strategic development goals through the transition to electric vehicles.
Brodette, previously the Managing Director of ENGS Commercial Finance’s Transportation Division, has more than 30 years of top-performing sales experience and team/workforce development, and holds a project manager certification.
Herring, previously Vice President and General Manager, Work Truck Finance at Mitsubishi HC Capital America, has more than 25 years’ experience of successful new business development and leadership in transportation finance. Herring led his team to a milestone of $1 billion in originations as the premier national independent lender dedicated to the work truck sector.
Four new Vice Presidents of Sales positions have also been announced:
- Jack Dison, Central
- Kevin Fassnacht, Midwest
- David Fritzshall, East
- Jay Saul, West
“One of the most important factors that I believe drives our success in transportation and throughout our company is the culture of care that we share, among each other, and with our customers,” Mann added. “Building trust with the people we work with enables us to create strong, long-standing relationships with each other and our business partners.”