Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America, announced it is launching a new division and introducing additional financing solutions customized for Canada’s growing technology sector.
Jim Moschos has been hired as the director of the new Technology Finance division, furthering Mitsubishi HC Capital Canada’s commitment to the information and communications technology (ICT) industry. The Canadian ICT market is forecast to expand at a 9.9 percent compounded annual growth rate to reach $182.7 billion by 2027.
Moschos and his team will provide flexible and tailored financing options that help end-users acquire the latest in hardware, software and services at manageable costs. Moschos has more than 20 years of experience in managed services, technology and software across many industries, in addition to equipment financing expertise in health care and clean technology.
“We provide companies with the option to finance virtually any IT product, from computers/servers and software across all industries sectors including but not limited to health care, clean tech and office equipment, with flexible rates and terms,” said Moschos. “Our lease and loan solutions, as well as our ability to take assignment of receivables in the tech space, allow us to address each business’s unique situation and need.”
The company’s assignment financing solution, for example, enables customers to improve their cash flow by monetizing existing contracts. Moschos said Mitsubishi HC Capital Canada’s process works within an OEM’s or vendor’s current contract set and pays them for their products and services upfront, without disrupting their existing selling processes. “Customers enjoy a seamless user experience with no additional contract documents,” Moschos added.
Customers doing business in both Canada and the U.S. also benefit from Mitsubishi HC Capital Canada’s cross-border financing capabilities through its affiliate Mitsubishi HC Capital America.
Kevin Hall, Vice President of Capital Markets, added, “With Jim’s guidance and expertise, we anticipate our end-user customers, as well as our OEM, dealer and value-added reseller (VAR) partners, will benefit from this expanded team and additional suite of financing solutions as they look to improve their business performance. We’re excited to welcome Jim and are confident he will be a valuable asset to the team and make significant contributions as we strive to better serve our customers.”