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Hitachi Government Closes Two Recent Factoring Transactions

October 01, 2014, 06:52 AM

Hitachi Government Finance, a division of Hitachi Capital America Corp., today announced that the company completed $1.6 million in accounts receivable financing to government contractors. 

Of the deals, Hitachi Government Finance provided an engineering and logistics services firm in Alabama a $600,000 A/R financing solution. The company provides weapon systems support and aids soldiers in the field. As the need for military assistance continues, the firm found itself in need of additional working capital to fund payroll and support new contracts. Hitachi Government Finance stepped in, and was able to provide a factoring facility that will allow the owners to pursue new business and meet the ongoing workforce demands.

Cash flow and working capital needs are often elevated when new opportunities arise, states Joe Bennett, division manager of Hitachi Government Finance. “The deals we’ve completed prove that the need to fund high-growth, entrepreneurial companies is strong. Our team has decades of experience in the government finance space, and we’re working to establish Hitachi as a leader in the field.”

The other recently completed transaction from Hitachi Government Finance includes a $1 million factoring facility to an IT and global communications firm in Maryland.

Hitachi Government Finance is a division of Hitachi Capital America Corp. and provides flexible working capital solutions for companies that provide goods and services to federal agencies and local governments, or who work as subcontractors to large government prime contractors. Based in Maple Lawn, Maryland, the firm provides commercial financing and factoring to small- and medium-size companies providing professional and non-professional staffing, logistics, IT services, accounting, program management, and facility operations and maintenance.

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