Mitsubishi HC Capital America is expanding its transportation division following the company’s integration with ENGS Commercial Finance and Mitsubishi HC Capital America (U.S.A.) on April 1.
With this integration, Mitsubishi HC Capital America is now a transportation lender with expertise in light-duty, medium-duty and heavy-duty Class 1 through Class 8 truck financing. In addition, Mitsubishi HC Capital America offers cross-border Class 1 through Class 8 truck financing into Canada through its subsidiary, Mitsubishi HC Capital Canada.
Mitsubishi HC Capital America’s transportation division operates under one of the company’s two primary operating businesses, the $3.9 billion vendor solutions business. In addition to traditional financing, Mitsubishi HC Capital America also provides consultative services to help OEMs looking to establish a dealer network and to dealers and end-user customers looking to attain their strategic development goals through the transition to electric vehicles.
“These expanded resources come at an advantageous time for us and our customers,” Jim Freund, president of vendor solutions for Mitsubishi HC Capital America, said. “The transportation banking and lending community is turbulent right now. With Mitsubishi HC Capital America being a non-bank with deep resources, we do not feel the impact that others are feeling. We remain committed and active in helping our customers grow with our industry-leading financial solutions. We are well positioned to increase our market leadership with even more robust financial solutions, including retail loans, leases and inventory financing, insurance and working capital for all commercial vehicle customers. We will also be expanding the use of our award-winning proprietary digital platform, Propel, and enhance the customer finance experience with greater ease of use, speed and convenience.”
Kirk Mann, executive vice president and head of transportation for vendor solutions at Mitsubishi HC Capital America, leads the transportation division. Mann is joined by Ann Brodette, senior vice president of sales in the eastern region, and Dave Herring, senior vice president of sales in the western region.
Mann previously served as senior vice president and general manager of transportation finance at Mitsubishi HC Capital America, which he joined in 2017. He has held sales, marketing and business development leadership roles in the transportation sector over his more than 30-year career.
“It’s exciting to have the opportunity to provide our dealer partners and customers with financial solutions that help them grow their own businesses,” Mann said. “As an experienced non-bank lender, our stability and appetite to do deals when traditional lenders are tightening their credit availability such as now makes us an attractive and critical option for the transportation market.”
Brodette was previously the managing director of ENGS Commercial Finance’s transportation division and has more than 30 years of sales and team/workforce development experience. Brodette also holds a project manager certification.
Herring was previously vice president and general manager of work truck finance at Mitsubishi HC Capital America and has more than 25 years of experience in new business development and leadership in transportation finance. Herring led his team to a milestone of $1 billion in originations as an independent lender dedicated to the work truck sector.
“I’m extremely pleased to have the decades of knowledge and experience of Kirk, Ann and Dave leading our transportation division. There is no better team in the market. They know exactly what is needed to take care of our clients, and they will deliver,” Freund said.
As part of the expansion, Mitsubishi HC Capital America named four new vice presidents of sales, including:
- Jack Dison, Central Region
- Kevin Fassnacht, Midwest Region
- David Fritzshall, East Region
- Jay Saul, West Region
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“One of the most important factors that I believe drives our success in transportation and throughout our company is the culture of care that we share among each other and with our customers,” Mann added. “Building trust with the people we work with enables us to create strong, long-standing relationships with each other and our business partners.”
