Daily News: April 17, 2015

Hitachi Provides Factoring Facility to Wholesale Supplier

Hitachi Business Finance announced a $2.5 million factoring facility to a wholesale supplier of machine parts for the financial industry.

The company, located in the Southern United States, was searching for a new source of capital that offered additional flexibility as they looked at future expansion plans. With their new factoring facility in place from Hitachi Business Finance, the company is looking forward to fulfilling new orders and securing additional clients.

“In instances such as this, a factoring facility made the most sense for this client because we could offer a quick turnaround and rely solely on their AR from a known and respected company. The client now has a stable source of working capital financing that has enabled them to confidently pursue substantial growth opportunities.”