Hitachi Business Finance Witnesses Record Growth in 2017; Provides Nearly $140 Million in Working Capital

Hitachi Business Finance, a source of opportunity for entrepreneurs seeking solutions beyond traditional lending, is celebrating its most successful year yet, having provided $139 million in working capital financing to companies of all sizes across the United States.

The largest area of growth this past year has come from the company’s asset-based lines of credit and new syndication lending solution. With the addition of Tom Bayer, who is spearheading the company’s syndication efforts, and the ongoing contributions of Tim King from Hitachi’s Trade Finance division, Hitachi Business Finance witnessed incredible growth in syndication loan volume. As a non-bank, commercial finance company, Hitachi Business Finance offers syndicated credit hold positions ranging from $5-$25 million.

“2017 was truly a remarkable year for Hitachi Business Finance,” says President and COO Mike Semanco. “With the addition of our new lending product, as well as the opportunity to add experienced staff to the team, we were able to reach different markets and serve new clients. Both of these actions combined to make Hitachi Business Finance a more diversified, stronger company with an increased focus on helping companies of all sizes, from many different industries, grow and be successful.”

Additionally, Hitachi Business Finance continues to serve its core client base of small- to medium-sized businesses with its factoring and ABL line of credit solutions. The company assisted a variety of businesses from the manufacturing, consulting, lending, and staffing industries with their working capital needs. These companies were looking to improve their cash flow, purchase new equipment, hire additional staff, meet seasonal demands, and more.

Semanco adds: “As we kick-off the New Year, we have high expectations for 2018 to surpass the past year’s success. With the work of our highly-talented team, as well as the deep resources of Hitachi, companies in need of additional cash flow will find us to be a solid, steady partner interested in helping them achieve their short- and long-term financial needs.”


About Hitachi Business Finance
Hitachi Business Finance is a source of opportunity and information for entrepreneurs seeking solutions beyond traditional lending. Backed by the global power of Hitachi Ltd., and with more than a decade of proven success, we offer asset-based financing designed to help improve a company’s cash position.

Visit us at www.hitachibusinessfinance.com for more information.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to commercial businesses and other Hitachi companies in the United States. We offer a variety of asset-based financing solutions with a focus on truck, trailer, and floorplan financing; trade financing; medium/small ticket financing; structured financing; vendor financing; and asset-based lending.

Learn more at www.hitachicapitalamerica.com.

Hitachi Business Finance Announces Completion of Deals Totaling $7 million

Hitachi Business Finance, a division of Hitachi Capital America Corp. and a leader in easy and flexible financing for growing companies, recently provided $7 million in working capital to two companies.

Of the new clients that received funding, the first is headquartered in Michigan. The company provides steel fabrication services and is a supplier to many different industries and organizations, including the US Department of Defense. With their $4.5 million line of credit from Hitachi Business Finance, the company now has a more comfortable cash flow position and plans to pay off existing loans, as well as take on additional work.

“Quite a few companies, in all varieties of industries, have been discovering the need for asset-based lending,” said President and COO Mike Semanco. “Whether it’s been fulfilling a huge order or hiring new personnel, our flexible and tailored lending gives these companies the cash flow assistance they need to take that next step forward.”

Additionally, Hitachi Business Finance was also instrumental in helping a Georgia-based educational provider. After consulting with the owners and learning that future sales are predicted to be at all-time highs, Hitachi was able to offer a $2.5 million line of credit supported by A/R, inventory, and equipment. The company plans to use the money to pay down the existing owner and purchase additional inventory.

“Assisting companies in their growth and development is something we are proud to be a part of,” said Chris Mitchell, regional VP and business development officer. “We know that in today’s market, competition is fierce, which is why we take pride in giving companies the cash flow they need to rise in the market.”

About Hitachi Business Finance
Hitachi Business Finance provides easy, flexible financing to support a company’s continued growth and success. A division of Hitachi Capital America, the company offers A/R financing, lines of credit, and government contractor financing. Based in Rochester, Michigan, with an office in Atlanta, we provide cash flow solutions for small- to-mid-size companies across the United States. Visit www.hitachibusinessfinance.com or call (248) 658-1100 to learn more.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to commercial businesses and other Hitachi companies in the United States. We offer a variety of asset-based financing solutions with a focus on truck, trailer, and floorplan financing; trade financing; medium/small ticket financing; structured financing; vendor financing; and asset-based lending.

Learn more at www.hitachicapitalamerica.com.

Tightening Credit Market Has Companies Looking for Different Working Capital Options

A less than favorable economic outlook is one of many reasons bankers say they are tightening credit for commercial and industrial loans, according to a recent Federal Reserve senior loan officer survey.

Worried that commercial borrowers may not be able to repay loans with a slow-growing economy, banks have enacted stricter standards to ensure repayment. In fact, more than 54 US bankers surveyed said their institutions have placed stricter standards on business loans and lines of credit.

With less access to working capital, many small- and medium-size businesses will be forced to turn to other sources, such as friends and family, private equity, and high-priced online loans. There are many alternatives to consider when financing your business, says Hitachi Business Finance President Mike Semanco.

“Banks may be the first option business owners think of. But looking past traditional lending is critically important. With so many options, business owners must do their research and evaluate all of their options.”

For instance, Semanco says that looking for state grants, pitch competitions and asset-based lending may be helpful.

“Asset-based lending is pretty much what the name implies: lending against your assets. Two specific types – A/R financing and lines of credit – have the time tested ability to sustain and grow a business when traditional methods of financing aren’t available.”

A/R financing is the sale of accounts receivable or invoices at a small discount to receive immediate cash. An asset-based line of credit is based on various resources, such as accounts receivable, inventory, equipment, or real estate. Asset-based lending has been viewed as a stepping stone to bank financing, with loans focused on the value of the asset and not solely on a company’s cash flow. Today, with an unstable oil and energy market, along with tighter credit restrictions, it’s not necessarily a stepping stone as much as it is a bridge.

Semanco offers a few examples of how real-life companies recently used asset-based lending to spur growth:

• $5 million line of credit to a company in the very constricted and regulated oil and energy industry. With a new source of funding, the firm was able to focus on growth and the development of new business.

As with most business owners, the company president did approach traditional lenders, but was unable to meet their increasingly strict requirements. With a recommendation from a trusted advisor, the company sought an asset-based loan. After a thorough review of their business and balance sheet, the company was able to secure a line of credit now that allows them to maintain a comfortable cash flow.

• $1 million in A/R financing to a distributor of hunting gear and equipment. With a rapid expansion plan in place for this year, the company was in need of working capital financing to support such growth. With $1 million in A/R financing, the company plans to purchase new inventory, bring on additional staff, and updated marketing initiatives can be developed and deployed.

If a small business can secure bank financing to meet their working capital needs, they should do so, suggests Semanco. However, the current economic climate may be making that more difficult, and with the availability of asset-based lending, companies should look beyond traditional lending to make payroll, secure new clients, and evaluate expansion projects.

About Hitachi Business Finance
Hitachi Business Finance provides easy, flexible financing to support a company’s continued growth and success. A division of Hitachi Capital America, the company offers A/R financing, lines of credit, and government contractor financing. Based in Rochester, Michigan, with offices in Atlanta, we provide cash flow solutions for small- to-mid-size companies across the United States.

Learn more by visiting www.hitachibusinessfinance.com or calling (248) 658-1100.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to commercial businesses and other Hitachi companies in the United States. We offer a variety of asset-based financing solutions with a focus on truck, trailer, and floorplan financing; trade financing; medium/small ticket financing; structured financing; vendor financing; and asset-based lending.

Learn more at www.hitachicapitalamerica.com

Hitachi Business Finance’s Toby Dahm to Speak at Business Valuation Event

Hitachi Business Finance Senior Vice President Toby Dahm will moderate and participate in an upcoming CFA panel event, “Business Valuation” on Thursday, March 31 at the Somerset Inn in Troy.

The program provides a snapshot of business valuation, whether it is for transactional purposes (fairness and solvency opinions, purchase/sale of companies, succession and estate planning) or litigation purposes (shareholder disputes, post-transaction disputes, fraudulent conveyance). Fellow speakers include Scott Eisenberg of Amherst Partners, John Kerschen of Charter Capital Partners, and Jesse Ultz of Stout Risius Ross.

“A lot more goes into business valuation than what meets the eye,” says Dahm. “Smart business owners should have a strategy around their business value from inception through exit. All significant business decisions impact the value which in turn affects the owners, successors, and numerous other parties, including legal advisories, suitors, or acquisition targets.”

More information can be found at http://community.cfa.com/michiganchapter/home.

About Hitachi Business Finance
Hitachi Business Finance is a division of Hitachi Capital America Corp. and provides customized, flexible financing solutions for companies looking for creative options to grow and sustain their businesses. Our solutions include factoring and revolving lines of credit secured by accounts receivable, inventory, and equipment. Based in Rochester, Michigan with an office in Atlanta, we provide financing solutions for small to mid-market companies across the United States. Learn more by visiting www.hitachibusinessfinance.com or calling (248) 658-1100.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to Hitachi group companies and the commercial business sector in the United States and Canada. Hitachi Capital America offers a variety of asset-based financing solutions with a business focus on truck, vendor, trade, and medical equipment finance, as well as lease discounting and software financing.

Learn more at www.hitachicapitalamerica.com

Troy Chamber of Commerce Appoints Hitachi Business Finance President Mike Semanco to Board of Directors

Hitachi Business Finance announced today that President and COO Mike Semanco has been appointed to the Troy Chamber Board of Directors.

The Troy Chamber exists to help create long-term economic vibrancy, vitality, and stability for Troy’s business community. Representing more than 650 businesses, the Troy Chamber serves as the city’s primary business information resource and helps businesses get connected and stay connected.

“The Troy Chamber of Commerce has long been known for its attention to and respect for the area business community. I am honored to serve on the board and look forward to contributing to the future direction and growth of the organization,” said Semanco.

“I have known Mike for several years and have always appreciated his keen sense of business,” said Chamber President Ara Topouzian. “A true entrepreneur, I look forward to working closer with Mike in moving the Troy Chamber upward and onward.”

About Hitachi Business Finance
Hitachi Business Finance is a division of Hitachi Capital America Corp. and provides customized, flexible financing solutions for companies looking for creative options to grow and sustain their businesses. Our solutions include factoring, revolving lines of credit secured by accounts receivable, inventory, and equipment, and government contractor financing. Based in Rochester, Michigan with offices in Atlanta, we provide financing solutions for small to mid-market companies across the United States. Learn more by visiting www.hitachibusinessfinance.com or calling (248) 658-1100.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to Hitachi group companies and the commercial business sector in the United States and Canada. Hitachi Capital America offers a variety of asset-based financing solutions with a business focus on truck, vendor, trade, and medical equipment finance, as well as lease discounting and software financing.

Learn more at www.hitachicapitalamerica.com.

Hitachi Business Finance Caps Off Successful 2015 With the Addition of Two New Clients

Rochester, MI, Dec. 15, 2015 – As 2015 wraps up, Hitachi Business Finance announced that two additional clients have received working capital assistance from the asset-based lender.

“In just these past few months, we have seen a significant uptick in business,” said President and COO Mike Semanco. “Companies from across the country, in a diverse variety of industries, are seeing their own businesses grow. From increases in contracts to hiring new employees, asset-based lending continues to be an incredibly valuable tool that allows businesses to better improve their operations and balance sheet metrics.”

Of the new clients that recently received funding, the first is a staffing company located in Georgia that was founded in early 2015. They provide pickers, packers, loaders, unloaders, and forklift operators to clients looking for warehouse assistance. With $500,000 in A/R financing from Hitachi Business Finance, the company now has a more comfortable cash flow position and plans to grow through the addition of two new large clients.

Additionally, Hitachi Business Finance was also instrumental in helping a Midwest-based kitchen and bath supplier increase their working capital facility. When their existing bank facility did not meet their needs, Hitachi stepped in and was able to offer more. With a new $500,000 revolving line of credit, the company can continue to focus on their core business and meet the demands of their busy fall and winter season.

“Helping the smaller companies with big growth plans is something that we, as a team, are passionate about,” said Chris Mitchell, regional VP and business development officer. “Being an entrepreneur isn’t easy and we know that. That’s why we work hand-in-hand with growing companies to help them achieve their goals.”

To see Hitachi Business Finance’s 2015 accomplishments and highlights, visit http://hitachibusinessfinance.com/2015-infographic.

About Hitachi Business Finance
Hitachi Business Finance provides business cash flow solutions to support a company’s continued growth and success. A division of Hitachi Capital America Corp., we offer commercial and government A/R financing and lines of credit. Based in Rochester, Michigan, with an office in Atlanta, we provide easy and flexible financing to companies of all sizes across the United States. Learn more by visiting www.hitachibusinessfinance.com or calling (248) 658-1100.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to Hitachi group companies and the commercial business sector in the United States and Canada. Hitachi Capital America offers a variety of asset-based financing solutions with a business focus on truck, vendor, trade, and medical equipment finance, as well as lease discounting and software financing. Learn more at www.hitachicapitalamerica.com.

Hitachi Business Finance SVP Toby Dahm Receives Distinguished Volunteer Award

Rochester, MI, Dec. 8, 2015 – Hitachi Business Finance today announced that Toby Dahm, senior vice president and ABL portfolio manager, was recently named a 2015 Distinguished Volunteer by the Greater Detroit Chapter of the Association of Fundraising Professionals.

Toby received the “Charismatic” Award by the organization for his passion in helping others, most notably those served by The Salvation Army. For the past eight years, he has served as an Advisory Board member to the Eastern Michigan Division of The Salvation Army, offering up strategic guidance and business advice. He also served two years as a committee member. Additionally, Hitachi Business Finance has supported Toby and The Salvation Army for many years as a corporate sponsor.

In an effort to raise both funds and awareness for the organization’s Bed and Bread program, Toby challenged himself to snowshoe around Belle Isle earlier this year. “The Salvation Army Bed and Bread program feeds, clothes, and provides comfort to 4,300 people in the Detroit area each day. As a board member, I have ridden on the truck and had direct contact with those suffering from severe poverty. This was my opportunity to make a difference.”

He made it around the island three times, which is about 15 miles total. For his efforts, he successfully raised nearly $3,000. This helped provide meals to more than 280 people in need.

“I’m humbled to receive such an honor,” says Toby. “Many years ago, I decided to volunteer my time and efforts to a cause that was making a difference in people’s everyday lives. The time I’ve spent with The Salvation Army has really made an impact on my personal life and makes me even more grateful for my many blessings.”

“Toby has made wonderful contributions to The Salvation Army over the many years he has been involved,” said Major Russ Sjögren, general secretary and metro Detroit area commander for The Salvation Army Eastern Michigan Division. “He is a respected advisor and his support inspires our team on a daily basis.”

About Hitachi Business Finance
Hitachi Business Finance provides business cash flow solutions to support a company’s continued growth and success. A division of Hitachi Capital America Corp., we offer commercial and government A/R financing and lines of credit. Based in Rochester, Michigan, with an office in Atlanta, we provide easy and flexible financing to companies of all sizes across the United States. Learn more by visiting www.hitachibusinessfinance.com or calling (248) 658-1100.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to Hitachi group companies and the commercial business sector in the United States and Canada. Hitachi Capital America offers a variety of asset-based financing solutions with a business focus on truck, vendor, trade, and medical equipment finance, as well as lease discounting and software financing. Learn more at www.hitachicapitalamerica.com.

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Hitachi Business Finance Continues Strong Fourth Quarter with $8.5 Million in Financing to Five Companies

Rochester, MI, Nov. 10, 2015 – Hitachi Business Finance today announced that five additional companies have received asset-based financing to assist with cash flow and working capital needs in the final quarter of 2015.

Of the deals, Hitachi Business Finance assisted a Midwestern consultant to the retail industry. With the holiday season quickly approaching, the company was looking to increase their working capital to continue their growth. Their previous lender was a community bank that could no longer service their ever-increasing needs, so Hitachi Business Finance was contacted. With a new $2 million revolving line of credit in place, the company is now looking forward to a successful end of the year and beyond.

Hitachi Business Finance was also instrumental in helping a start-up steel manufacturer in Michigan get off the ground and running. As a new company without any financial history, traditional bank financing was not an option. Because the Hitachi team’s strong knowledge of the manufacturing industry and their belief in the management team, the company was able to secure a $500,000 A/R financing facility to meet payroll and provide flexibility as the company continues to grow.

“We continue to see a wide variety of companies taking advantage of asset-based lending,” says Senior Vice President Jeff Wright. “From staffing to manufacturing, companies of all makes and sizes are seeing an increase in business and are in need of additional working capital as we close out 2015. It’s being used as businesses need it – for expansions, hiring new personnel, increasing sales, taking on new orders, and more.”

Additionally, other recent deals include:

  • $5 million lender finance facility to a commercial finance company
  • $500,000 in A/R financing to a consulting firm that provides services to the U.S. government
  • $500,000 in A/R financing to a newly-established staffing company

For more information, visit www.hitachibusinessfinance.com.

About Hitachi Business Finance
Hitachi Business Finance provides business cash flow solutions to support a company’s continued growth and success. A division of Hitachi Capital America Corp., we offer commercial and government A/R financing and lines of credit. Based in Rochester, Michigan, with an office in Atlanta, we provide easy and flexible financing to companies of all sizes across the United States. Learn more by visiting www.hitachibusinessfinance.com or calling (248) 658-1100.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to Hitachi group companies and the commercial business sector in the United States and Canada. Hitachi Capital America offers a variety of asset-based financing solutions with a business focus on truck, vendor, trade, and medical equipment finance, as well as lease discounting and software financing. Learn more at www.hitachicapitalamerica.com.

Hitachi Business Finance Provides $1.75 Million in Financing to Michigan Businesses

Rochester, MI, Oct. 20, 2015 – As the economy in Michigan continues to rebound, Hitachi Business Finance is playing a part by financing two growing companies with accounts receivable funding.

The first company, located in mid-Michigan, provides hunting gear and equipment. With a rapid expansion plan in place for 2016, the company was in need of working capital financing to support such growth. With $1 million in A/R financing from Hitachi Business Finance, new inventory can be purchased, additional staff can be hired, and marketing initiatives can be developed.

The other company manufactures automotive parts both in Michigan and overseas. This company is also expecting significant growth next year, and plans to use their $750,000 in A/R financing to move into a larger facility, as well as pay off their existing lenders.

“We have really noticed a significant uptick in interest locally,” said Jeff Wright, senior VP and business development officer. “Businesses are in growth mode and are aggressively planning for the new year. Asset-based financing is a perfect complement for these companies because as they grow, so does their financing. There’s never a worry about taking that next order or hiring that new employee because the working capital is already in place.”

For more information, visit www.hitachibusinessfinance.com.

About Hitachi Business Finance
Hitachi Business Finance provides business cash flow solutions to support a company’s continued growth and success. A division of Hitachi Capital America Corp., we offer commercial and government A/R financing and lines of credit. Based in Rochester, Michigan, with an office in Atlanta, we provide easy and flexible financing to companies of all sizes across the United States. Learn more by visiting www.hitachibusinessfinance.com or calling (248) 658-1100.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to Hitachi group companies and the commercial business sector in the United States and Canada. Hitachi Capital America offers a variety of asset-based financing solutions with a business focus on truck, vendor, trade, and medical equipment finance, as well as lease discounting and software financing. Learn more at www.hitachicapitalamerica.com.

Hitachi Business Finance Provides $250,000 in Accounts Receivable Financing to Midwest Sporting Goods Company

Rochester, MI, July 17, 2015 – Hitachi Business Finance today announced $250,000 in accounts receivable financing for an outdoor sporting goods company.

The company has only been in operation for a year, and was in need of additional cash flow to purchase more inventory. With a new source of financing in place, the company is now in the position to work with overseas vendors and continue growing their profitable business.

“This particular company has a very limited operating history and was in need of extra working capital,” said Mike Semanco, president and COO. “Their lack of time in business prevents them from obtaining a traditional bank loan. Fortunately, they have a solid customer base and could easily take advantage of our A/R financing. This particular form of funding allows a company to sell their outstanding invoices to us, and we advance 80-90 percent of the value in less than 24 hours. The quick turnaround on cash flow is vital to a growing business and one of the greatest advantages to A/R financing.”

For more information, visit www.hitachibusinessfinance.com.

About Hitachi Business Finance
Hitachi Business Finance provides business cash flow solutions to support a company’s continued growth and success. A division of Hitachi Capital America Corp., we offer commercial and government A/R financing and lines of credit. Based in Rochester, Michigan, with an office in Atlanta, we provide easy and flexible financing to companies of all sizes across the United States. Learn more by visiting www.hitachibusinessfinance.com or calling (248) 658-1100.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to Hitachi group companies and the commercial business sector in the United States and Canada. Hitachi Capital America offers a variety of asset-based financing solutions with a business focus on truck, vendor, trade, and medical equipment finance, as well as lease discounting and software financing. Learn more at www.hitachicapitalamerica.com.