Hitachi Business Finance, a division of Hitachi Capital America, provided $7 million in working capital to two companies.

The first client, headquartered in Michigan, provides steel fabrication services and is a supplier to many different industries and organizations, including the U.S. Department of Defense. With its $4.5 million line of credit from Hitachi Business Finance, the company now has a more comfortable cash flow position and plans to pay off existing loans, as well as take on additional work.

Hitachi Business Finance was also instrumental in helping a GA-based educational provider. After consulting with the owners and learning that future sales are predicted to be at all-time highs, Hitachi was able to offer a $2.5 million line of credit supported by A/R, inventory and equipment. The company plans to use the money to pay down the existing owner and purchase additional inventory.

“Quite a few companies, in all varieties of industries, have been discovering the need for asset-based lending,” said Hitachi Business Finance President and COO Mike Semanco. “Whether it’s been fulfilling a huge order or hiring new personnel, our flexible and tailored lending gives these companies the cash flow assistance they need to take that next step forward.”