Mitsubishi HC Capital America is expanding its commercial specialty vehicle financing solutions, specifically aimed at fire and emergency vehicles, wreckers and shuttle/transit buses.
“We see a tremendous need in this market,” Gary Furnas, vice president and general manager of inventory finance for Mitsubishi HC Capital America, said. “Our consultative approach is a superb value-add, as we work to create a collaborative, customized financing solution that helps generate business growth opportunities. By offering individualized inventory financing programs, we enable our customers to meet their goals and build strategies to accomplish more.”
Inventory finance goes by many names in the industry, including floor planning and wholesale finance. As a form of asset-based lending, the amount borrowed is determined by the value of a borrower’s inventory. Wholesale finance lenders can advance rates at 100% of a dealer’s invoice amount for new inventory as a line of credit. Benefits can include improved cash flow, reduced capital requirements and expanded inventory stocking levels for dealers. Additionally, inventory finance can reduce open account risk and administration for OEMs, upfitters and chassis suppliers, enabling them to turn their receivables into cash.
“As a non-bank wholesale finance lender, Mitsubishi HC Capital America can provide quick credit decisions and expedited funding. We’re here with the expertise, the willingness to do deals and flexible terms,” Furnas said.
