Hitachi Business Finance, a division of Hitachi Capital America, completed five syndicated transactions and provided two A/R financing facilities for a total of $74.2 million.
Most recently, Hitachi provided a $700,000 A/R facility to an electrical control manufacturer in Florida and a $500,000 A/R facility to a recycling company in Michigan. Both companies plan to use the financing for additional working capital and to pay off existing lenders.
“There’s been a lot of positive movement lately in the syndicated markets,” said Hitachi Business Finance President and COO Mike Semanco. “But still there remains countless small-to-medium size companies that need critical funding to complete that next order, hire additional employees or meet seasonal needs. That’s where our other financing solutions – A/R financing and asset-based lines of credit – prove to be beneficial.”
As participants in syndicated transactions, Hitachi Business Finance offers hold positions ranging from $5 million to $25 million. Proceeds are used for working capital (A/R and inventory), equipment/CAPEX and growth capital, acquisition, turnaround and recapitalization financing.
