Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, signed a fair market value (FMV) lease program for a global original equipment manufacturer in the material handling industry.
The transaction was brokered between a U.S.-based finance company and Mitsubishi HC Capital Canada. Because of geographic lending restrictions, the finance company sought a partnership with Mitsubishi HC Capital Canada to satisfy the OEM’s needs while also allowing it to expand its capabilities into Canada, according to David Gagnon, vice president of strategy and sales operations at Mitsubishi HC Capital Canada.
“With fully staffed offices in both the United States and Canada consisting of bilingual credit, operations and sales leaders and executives, Mitsubishi HC Capital Canada is uniquely and expertly positioned for cross-border financing,” Gagnon said. “Our team is quite distinctive because we have both the experience and know-how to use collateral from different countries to underwrite a facility. The capabilities and collaboration we share with our colleagues in the United States allow us to provide our customers with a thorough, easy-to-use solution.
“FMV leases allow customers to obtain equipment at the lowest total cost of ownership. They are often available with 100% financing, which allow customers to invest their saved costs in other assets or use the capital for other business needs. Customers with an FMV lease can also better manage their equipment as technology changes because they don’t own the asset and can easily upgrade when needed.”
In addition to its core leasing business in construction and transportation, Mitsubishi HC Capital Canada’s provides inventory finance, retail finance, asset-based lending and other customized financing solutions. It is also expanding its work in servicing the industrial and technology sectors.
“We have built a strong footprint through our high-quality partnership approach with our customers, brokers and dealers, and our speed of execution,” Gagnon said. “Our deep resources and expertise enable us to provide these products and support our goal to be the market leader in commercial finance.”
