Mitsubishi HC Capital America Closes $400MM in Inventory Finance Deals
AUG 23, 2023 - 6:44 am
Mitsubishi HC Capital America closed two inventory finance transactions, totaling $400 million, to separate specialty vehicle partners to boost their purchasing power and enhance liquidity.
Mitsubishi HC Capital America has worked with one of the customers for 12 years, according to Gary Furnas, vice president and general manager of inventory finance at Mitsubishi HC Capital America.
“The relationship and trust we have developed with each other over time speaks to the ability of both the customer and our company to execute such a strong and mutually beneficial contract,” Furnas said.
The other transaction provides an increase to an existing line of credit for a specialty upfitter, which plans to use the funds to acquire van chassis that customers upfit and then sell to their end-user customers.
“Demand for these specialty vehicles continues to grow rapidly,” Furnas. “We always work to bring value to our customers and make it as easy as possible to understand and be successful in the commercial truck market. Our consultative approach is a tremendous value-add, as we work to create a collaborative, customized financing solution that helps generate business growth opportunities.”
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