Mitsubishi HC Capital America Expands Inventory Finance Team

Mitsubishi HC Capital America increased the capabilities of its inventory finance team with a series of new hires and promotions. The strengthened team will aim to further improve the company’s floorplan solution in the United States and Canada to facilitate the future success of OEMs, distributors and dealers while increasing purchasing power and enhancing liquidity.

First, the company promoted Gary Furnas to vice president and general manager for inventory finance, a division of the company’s transportation finance unit. Furnas joined the company in November 2021 as the director of business development and worked to grow the company’s platform. As vice president and general manager, Furnas is now responsible for the overall growth and development strategy of the division, managing the portfolio and associated risk, as well as curating and cultivating new relationships with dealers and manufacturers across the United States.

In addition to promoting Furnas, Mitsubishi HC Capital America hired Navin Uttamchandani as vice president of risk and operations for inventory finance. Uttamchandani has more than 20 years of progressive lending experience in underwriting, portfolio and risk management, as well as leadership experience in transformation initiatives. He previously held positions at JPMorgan Chase, Santander Bank, Capital One Auto Finance and GE Capital/GE Commercial Distribution Finance.

In addition to hiring Uttamchandani, Mitsubishi HC Capital America added Michelle Grubb as sales development representative and Dayana Correa as inventory finance coordinator.

“Gary and Navin’s combined experience and leadership will usher in a new era of capabilities for our organization. Their understanding of the industry and know-how will prove to be essential as we work to further develop dealer and OEM relationships across both the United States and Canada,” Kirk Mann, senior vice president and general manager for transportation finance at Mitsubishi HC Capital America, said. “More importantly, by lending into the supply chain with inventory financing, our customers have another financing solution as they work to drive sales growth and improve their bottom lines.”

“Building out our inventory finance team enhances our ability to provide customers with the critical financing they need for assets they hold for sale throughout North America,” Félix Beauregard, vice president of inventory finance for Mitsubishi HC Capital Canada, said. “Our Canadian team looks forward to working with our American counterparts as they continue growing our unique value proposition as a non-bank lender for OEMs and distributors who do business in the U.S. and Canada.”

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