Daily News: August 13, 2014

Hitachi Government Partners with Lafayette Federal Credit Union

Hitachi Government Finance, a division of Hitachi Capital America, announced a new partnership with Lafayette Federal Credit Union.

The partnership allows the two organizations to combine their resources to offer government receivables financing and cash management services to companies that range from small, economically disadvantaged businesses, to mature, publicly traded companies that provide goods and services to U.S. government agencies, local governments, and as subcontractors to larger prime contractors. Typical clients have monthly financing needs from $50,000 to $20 million.

“Our experience in handling government contracts, including assignments and funding appropriations, enables us to help companies maneuver through the bureaucracy efficiently,” said Joe Bennett, Hitachi Government Finance Division manager. “Our team has more than 60 years of combined experience, so we are very familiar with the challenges government contractors face and how to create responsible financing solutions that allow for opportunity and growth.”

“Lafayette Federal Credit Union has been looking for additional avenues to offer commercial financing to its members,” said Harbaksh Chhatwal of Lafayette Federal Credit Union. “We feel that teaming up with Hitachi Government Finance is an excellent opportunity for our members to grow their respective companies with a trusted leader in the financial space.”