Hitachi Government Finance Funds Two Factoring Transactions
Hitachi Government Finance, a division of Hitachi Capital America, announced that the company completed $1.6 million in A/R financing to government contractors.
Of the deals, Hitachi Government Finance provided an engineering and logistics services firm in Alabama a $600,000 A/R financing solution. The company provides weapon systems support and aids soldiers in the field. As the need for military assistance continues, the firm found itself in need of additional working capital to fund payroll and support new contracts. Hitachi Government Finance stepped in, and was able to provide a factoring facility that will allow the owners to pursue new business and meet the ongoing workforce demands.
Cash-flow and working capital needs are often elevated when new opportunities arise, stated Joe Bennett, division manager of Hitachi Government Finance. “The deals we’ve completed prove that the need to fund high-growth, entrepreneurial companies is strong. Our team has decades of experience in the government finance space, and we’re working to establish Hitachi as a leader in the field,” Bennett said.
The other recently completed transaction from Hitachi Government Finance includes a $1 million factoring facility to an IT and global communications firm in Maryland.