Daily News: September 12, 2014

Hitachi Business Finance Completes $11.2MM in Financing

Hitachi Business Finance announced the company completed $11.2 million in financing solutions for growing companies.

Hitachi Business Finance provided a $1 million A/R financing solution to a returning client from 2004. Located in Michigan, the company provides global business IT solutions. The firm is in rapid growth mode, and was in need of a quick infusion of capital to fund payroll for new projects. They chose to return to Hitachi Business Finance because their past experience was simple, the staff was supportive, and the process was easy and flexible.

In addition, Hitachi Business Finance provided MSX International a $10 million line of credit, which was part of a larger debt refinancing plan. MSXI will save more than 50% of their annual debt interest costs and plans to use the funds to enhance liquidity and for future working capital needs.

Hitachi Business Finance President & COO Mike Semanco notes that the team is helping to finance companies at both ends of the spectrum, both big and small. “Asset-based lending can work for any firm, regardless of the size. It’s more about the need,” said Semanco. “We can help fund your smallest invoice, or we can offer a significant line of credit to help secure a new contract, purchase new equipment, or fund payroll. That is why our type of financing is so valuable to companies that are rapidly growing or looking to expand.”

Other recently completed transactions from Hitachi Business Finance include:

  • $100,000 AR financing solution to a technical staffing firm in Colorado
  • $100,000 AR financing solution to a returning client in California that produces baby products