October 18, 2023 Mitsubishi HC Capital America Provides $60M IT Finance

Mitsubishi HC Capital America’s technology finance bundled solution is unique to the industry.

COLUMBUS, OH – Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America with $7.5 billion in owned and managed assets, announced that it recently provided a Canadian-based IT service provider with a $60 million facility to support their rapidly growing business and free up cash flow.  

Headquartered in Ontario, the company provides cutting-edge technology and solutions to businesses across North America. An innovative and forward-thinking business model led to robust growth opportunities for the company, creating the need for additional working capital. The facility will provide both supply chain and accounts receivable financing, as well as term solutions such as leasing and as-a-service financing (AaS) related to consumption and managed services.

“Mitsubishi HC Capital America’s technology finance bundled solution is unique to the industry, providing financing from purchase order placement to collection. By focusing on the credit strength of the end user, this enables the solution to be delivered without bad debt risk to our partners as well as no capital use restrictions, personal guarantees, restrictive line caps, concentration limits, or covenants that traditional bank lenders require,” says Steve Weislogel, Managing Director for Mitsubishi HC Capital America’s Technology Finance division.  “That’s incredibly attractive to companies looking to secure additional working capital availability.”

With 15 offices located across the United States and Canada with full operations and credit teams in both English-speaking and French-speaking provinces, the cross border-capabilities of Mitsubishi HC Capital America were attractive and proved to be extremely beneficial to the borrower. “Since this specific solution isn’t readily available in Canada, it was determined that the client is best served utilizing a lending product originated by our team here,” said Weislogel. Plus, “the connectivity between our offices and thorough understanding of each country’s policies and regulations means we can provide complete and comprehensive commercial financing, regardless of the location,” he said.

About Mitsubishi HC Capital America
Mitsubishi HC Capital America is a specialty finance company that has extensive capabilities throughout North America with its affiliate, Mitsubishi HC Capital Canada, combining a consultative approach and expansive digital platform to help organizations of all sizes accelerate growth. With $7.5 billion in assets and more than 800 employees, the company is the largest non-captive, non-bank commercial finance company in North America. Mitsubishi HC Capital America partners with equipment manufacturers, dealers and distributors, as well as end customers, in providing customized financial solutions, including transportation and commercial finance. Dedicated to improving the communities where it operates, the company is committed to the United Nations Sustainable Development Goals. Visit https://www.mhccna.com/en-us

Media contact: Katie Mullin, Vice President of Marketing Communications, kmullin@mhccna.com

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