Hitachi Business Finance provided a record $139 million in working capital financing to companies of all sizes across the U.S. in 2017.

The largest area of growth during the year came 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 growth in syndication loan volume. As a non-bank, commercial finance company, Hitachi Business Finance offers syndicated credit hold positions ranging from $5 million to $25 million.

“2017 was truly a remarkable year for Hitachi Business Finance,” said Mike Semanco, president and COO. “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 continued 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 working capital needs. These companies were looking to improve their cash flow, purchase new equipment, hire additional staff and meet seasonal demands.

“As we kick-off the new year, we have high expectations for 2018 to surpass the record growth of this past year,” Semanco said. “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.”