Daily News: May 9, 2014

Hitachi Business Finance Funds $950K in Factoring Deals

Hitachi Business Finance, a division of Hitachi Capital America Corp., 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