Mitsubishi HC Capital America Provides $60MM Facility for IT Service Provider

Mitsubishi HC Capital America recently provided a Canadian-based IT service provider with a $60 million facility to support its rapidly growing business and free up cash flow.

Headquartered in Ontario, the company provides technology and solutions to businesses across North America. Its innovative and forward-thinking business model led to robust growth opportunities for the company, creating the need for additional working capital. The facility will provide both supply chain and accounts receivable financing, as well as term solutions such as leasing and as-a-service financing related to consumption and managed services.

“Mitsubishi HC Capital America’s technology finance bundled solution is unique to the industry, providing financing from purchase order placement to collection. By focusing on the credit strength of the end user, this enables the solution to be delivered without bad debt risk to our partners as well as no capital use restrictions, personal guarantees, restrictive line caps, concentration limits or covenants that traditional bank lenders require,” Steve Weislogel, managing director for Mitsubishi HC Capital America’s technology finance division, said. “That’s incredibly attractive to companies looking to secure additional working capital availability.”

The cross border-capabilities of Mitsubishi HC Capital America, with offices located across the U.S. and Canada in both English and French-speaking provinces, were attractive and proved to be extremely beneficial to the borrower.

“Since this specific solution isn’t readily available in Canada, it was determined that the client is best served utilizing a lending product originated by our team here,” Weislogel said. “The connectivity between our offices and thorough understanding of each country’s policies and regulations means we can provide complete and comprehensive commercial financing, regardless of the location.”

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