Hitachi Business Finance, a division of Hitachi Capital America Corp., announced that they will close 2013 providing more capital to more clients than it has in previous years.

“While the lending industry continues to find its footing, 2013 was a great year for Hitachi Business Finance," said Mike Semanco, president and COO of the division. “Our continued growth is attributable to our team’s solutions-based expertise in helping growing companies finance new sales growth, increase profitability, and provide consistent cash flow. Even with uncertain economic conditions and a highly-competitive lending environment, Hitachi Business Finance is on track to make 2014 even better.”

Within the latter part of 2013, Hitachi Business Finance financed:

• An $8 million asset-based lending facility to a wireless tower services firm in North Carolina
• A $4 million asset-based lending transaction to an LED lighting supplier in Texas
• A $2.5 million asset-based lending facility for a Michigan-based plastic injection molding firm
• A $1.5 million asset-based lending facility to a manufacturer of specialized ductwork coatings in Michigan
• A $1 million factoring facility to an optical inspection equipment manufacturer in Michigan
• A $500,000 factoring facility to a Michigan staffing services agency
• A $300,000 factoring facility to a candy importer based in Michigan

Semanco also adds: “There is no doubt that 2013 was a great year for us. As we move into 2014, we will continue to capitalize on our mission of offering flexible financing solutions to complex business issues.” 

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. Solutions include factoring and revolving lines of credit secured by accounts receivable, inventory, and equipment. Based in Rochester, Michigan,  Hitachi Business Finance provides 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.