Mitsubishi HC Capital America has increased the capabilities of its inventory finance team with a series of new hires and promotions. The strengthened team will strive to further enhance the company’s floor plan solutions in the United States and Canada to facilitate the future success of OEMs, distributors and dealers while increasing purchasing power and increasing liquidity.
First, the company promoted Gary Furnas to vice president and general manager of inventory finance, the company’s transportation finance division. Furnas joined the company in November 2021 as director of business development and worked on the development of the company’s platform. As vice president and general manager, Furnas is now responsible for the division’s overall growth and development strategy, managing the portfolio and associated risks, as well as curating and nurturing new relationships with dealers and manufacturers throughout the United States.
In addition to the promotion of Furnas, Mitsubishi HC Capital America has hired Navin Uttamchandani as vice president of risk and inventory finance operations. Uttamchandani has more than 20 years of progressive lending experience in underwriting, portfolio and risk management, as well as leadership experience in transformation initiatives. He previously held positions at JPMorgan Chase, Santander Bank, Capital One Auto Finance and GE Capital/GE Commercial Distribution Finance.
Along with the hiring of Uttamchandani, Mitsubishi HC Capital America has added Michelle Grubb as a sales development representative and Dayana Correa as an inventory financing coordinator.
“The combined experience and leadership of Gary and Navin will usher in a new era of capabilities for our organization. Their industry understanding and knowledge will prove critical as we work to further develop dealer and OEM relationships in the United States and Canada,” Kirk Mann, senior vice president and general manager of transportation finance at Mitsubishi HC Capital America, said. “More importantly, by providing supply chain lending with inventory financing, our customers have another financing solution as they work to drive sales growth and improve bottom lines.”
“Building our inventory financing team enhances our ability to provide clients with the critical financing they need for the assets they hold for sale across North America,” Félix Beauregard, vice-president of inventory finance for Mitsubishi HC Capital Canada, said. “Our Canadian team looks forward to working with our US counterparts as they continue to develop our unique value proposition as a non-bank lender to OEMs and distributors operating in the US and Canada.”