Hitachi Business Finance, a division of Hitachi Capital America Corp., today announced that the company completed $950,000 in factoring transactions in April.
Of the deals, Hitachi Business Finance closed a $100,000 factoring facility for a tier-two auto supplier that produces sheet metal stampings. Founded in 2007, the Michigan-based company is witnessing positive growth and a substantial increase in sales. Although the company is well-established, the company fell on troubled times during the recession and was in need of a new source of funding to keep up with the growing production demands of their customers.
“Our customized financing solutions provide an immediate injection of cash flow, allowing business owners to focus on successfully running their business,” says Mike Semanco, president and COO of Hitachi Business Finance. “We work with businesses of all sizes from a variety of industries, helping each strengthen their market position and become more profitable.”
Other recently completed transactions from Hitachi Business Finance include:
- $650,000 factoring facility to an LED light fixture distributor in Ohio
- $200,000 factoring facility to a graphic design firm in Michigan
Hitachi Business Finance (formerly Hennessey Capital) is a division of Hitachi Capital America Corp. and provides customized, flexible financing solutions for companies looking for creative options to grow and sustain their businesses. Our solutions include factoring and revolving lines of credit secured by accounts receivable, inventory, and equipment. Based in Rochester, Michigan with offices in Cleveland and Atlanta, we provide financing solutions for small to mid-market companies across the United States.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to Hitachi group companies and the commercial business sector in the United States and Canada. Hitachi Capital America offers a variety of asset-based financing solutions with a business focus on truck, vendor, trade, and medical equipment finance, as well as lease discounting and software financing.