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(248) 658-3201
(248) 658-3208
(248) 259-3749
(248) 658-3224
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Done Deals
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$300,000 factoring facility to a candy importer in Michigan
$1 million factoring facility to an optical inspection equipment company in Michigan
$8 million line of credit to a North Carolina-based wireless tower services firm
$4 million line of credit to a LED light supplier located in Texas
$1.5 million line of credit to a manufacturer in Michigan that specializes in ductwork coatings
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 In a move to better reflect the global power and strength of our parent company, Hennessey Capital has changed its name. Now known as Hitachi Business Finance, a division of Hitachi Capital America Corp, the company offers a world of lending options with the same service, staff, and solutions. The change comes one year after Hennessey Capital was acquired by Hitachi Capital America Corp. "This is more than just a new name," says Mike Semanco, president and COO of the Hitachi Business Finance division. "As we continue to work locally here in Michigan and with our expansion across the country, we are finding that people are excited about the power of Hitachi and the results we can deliver for our clients." Hitachi Business Finance continues to offer creative, flexible solutions for a variety of complex business financing needs. Lending solutions include factoring and revolving lines of credit, each designed to enhance profitability and strengthen cash flow. "We are excited to make this change," adds Semanco. "The strength and size of Hitachi provides us with the flexibility to offer creative lending solutions at more competitive rates. In the end, our goal remains the same - to offer financing solutions to complex business challenges and customize an individual solution to move your business forward." William H. Besgen, president of Hitachi Capital America Corp., adds "The Hennessey Capital team has really been team Hitachi for the past year. We felt that now was the right time to make the final transition. The work they're doing will only be strengthened and enhanced by carrying the Hitachi name across Michigan and the country." |
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Upcoming Event: Macomb County's "Small Business Financing Forum"
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Do you know of a company that is need of financing to cover expenses or commercialize a new product/service?
If so, then spread the word about Macomb County's upcoming "Small Business Financing Forum" on Nov. 14 at the Velocity Collaboration Center. Local experts, including our own Mike Semanco, will be discussing current financing options. Register by emailing or calling Susan Bates at Susan.Bates@macomb.org or (586) 469-5285. |
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Professional Partner Spotlight: Lease Corporation of America & LCA Bank Corp.
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About: Lease Corporation of America (LCA) is a full-service financing company specializing in technology and industrial equipment financing. LCA offers a multitude of leasing programs that allow companies to obtain the equipment they need now and pay for it over a fixed amount of time, freeing up working capital and credit lines.
 Based in Troy, Michigan, LCA has serviced the needs of its vendors, customers and brokers since its formation in 1988. LCA has kept pace with the ever-changing economy to develop innovative financing programs, professional marketing support and easy-to-use leasing tools for our clients. According to the trade publication Monitor, LCA was the 17th largest independently owned leasing company and the 100th largest leasing operation overall in the United States.
LCA Bank Corporation, member FDIC and wholly owned subsidiary of LCA, was founded in 2005 and is located in Park City, Utah. The Bauer Financial Inc.'s 2013 publication "Top 100 Banks," as of December 31, 2012, places LCA Bank Corporation in the upper 1% of all federally insured institutions in the United States based upon the income measurement of Return on Average Assets.
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Small Businesses in Transition... Tackling the "Lone Ranger" Syndrome
| By: Charles "Chuck " Doyle
First appeared in ABL Advisor on October 9, 2013
Recent figures suggest that 60% of businesses will change hands over the next ten years. According to a recent RBS Citizens Bank survey, nearly 80% of mid-market firms anticipate at least one acquisition in the short term and, conversely, one-third are open to outside investors. Whether you are the one doing the buying or the selling, a significant transition can offer a once in a lifetime opportunity to fulfill your dreams, or turn into a complete nightmare. Whatever the transaction -- a sale, succession, restructuring or transition to a new capital facility, the key is to be prepared, be proactive not reactive, and to minimize risk by getting help in the areas of the business that aren't part of your expertise, knowledge or skill set.
The Lone Ranger Syndrome
The entrepreneur, as many small business owners are, is accustomed to -- and usually thrives on -- solving problems alone. However, most successful business owners don't do everything on their own. Realizing the need for... Continue Reading.
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Federal Reserve Sets Bank Stress Test Scenarios
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The Federal Reserve recently released the economic scenarios it will use in its annual test of the health of the U.S.'s largest banks.
The scenarios range from mildly bad to catastrophic, and map how the economy could perform in the next three years. In the Fed's worst case, the nation's unemployment rate leaps to 11.3%, house prices fall by 25%, and the Dow Jones plunges nearly 50%, to just under 9,000... Continue Reading.
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