ROCHESTER — Hennessey Capital, a division of Hitachi Capital America Corp., is doing its part to nurture and assist Michigan businesses by offering reduced fees to new clients participating in the Pure Michigan Business Connect initiative.
Hennessey Capital will offer new clients through the program significantly reduced initial due diligence fees to reduce out-of-pocket costs for new loans. The Pure Michigan Business Connect initiative is designed to connect Michigan companies with opportunities to help them grow and expand. The state-wide initiative is operated by the Michigan Economic Development Corp.
By participating in the program, companies can find procurement resources to expand their supply chain, access a new business-to-business network, and receive business assistance at little to no cost like legal, accounting, and other services.
MEDC president and CEO Michael A. Finney called Hennessey’s move “an impressive commitment” that “will assist Michigan businesses with their working capital needs and efforts to grow, succeed, and enhance profitability.”
The opportunity to offer knowledgeable and trustworthy assistance and make a difference to program participants is the reason for Hennessey Capital’s involvement, said president and COO of the Hennessey Capital division, Mike Semanco.
“As a firm with deep roots in Michigan, we want to do our part in spurring economic growth,” said Semanco.
The B2B portal is free to all Michigan businesses. Learn more about the program and register for the B2B system at www.puremichiganb2b.com.
Hennessey Capital provides revolving lines of credit secured by accounts receivable, as well as inventory and equipment, along with factoring of accounts receivable for small- and middle-market companies across the United States. Facilities range from initial invoicing to $5 million and beyond and are used as primary loan facilities, for restructuring current debt, and funding seasonal or incremental sales growth.
Learn more at www.hennesseycap.com or by calling (248) 658-1100.