MONTREAL, Quebec, July 26, 2023 – Progressive Capital Equipment Finance Inc. (Progressive Capital) announced today that its wholly owned subsidiary, Dynamic Capital Equipment Finance (Dynamic Capital), has secured a $55 Million Funding Facility (the “Facility”) with Mitsubishi HC Capital Canada.
Private, independent, and Canadian-based, Dynamic Capital is a leader in equipment financing and leasing in Western Canada. With a total of $400M in assets under management, Dynamic Capital provides creative funding solutions in all market cycles and this new Facility adds to Dynamic Capital’s existing funding relationships. Unique in the Canadian marketplace, Dynamic Capital can lend across the credit spectrum with rates from investment grade to sub-prime.
“With the support of Mitsubishi HC Capital Canada, we are growing and supporting Canadian Entrepreneurs across Canada in a broad range of heavy industries,” said Dustin White, CEO of Dynamic Capital. “Adding Mitsubishi HC Capital Canada as a funding partner is an important strategic step for Progressive Capital, as Dynamic Capital’s presence in the market continues to grow.”
Highlights for the new Facility include an annual Funding Capacity of $50MM, and a Warehouse facility with a limit of $5 million. The Facility will be used to margin a diversified basket of commercial equipment financing receivables.
“We are proud to part of Progressive growth strategy” said François Nantel, President of Mitsubishi HC Capital Canada. “Dynamic Capital is a significant player in the equipment finance industry, and we have great expectations for this relationship.”
About Dynamic Capital Equipment Finance
Dynamic Capital is growing and supporting Canadian Entrepreneurs across Canada in a broad range of heavy industries daily. Its Direct, Vendor, TPO, Structured, and Fleet platforms provide Capex, M&A, Working Capital, and Debt Restructuring options to help its clients achieve both their short- and long-term goals. If you are interested in exploring funding solutions for your business, your clients, or if you are wanting to join this exciting, growing company, visit www.dynamiccapital.ca.
About Mitsubishi HC Capital Canada
Mitsubishi HC Capital Canada brings a consultative approach and expertise to customers of all sizes to help their businesses grow every day. Serving as a collaborative partner, we provide customized financing solutions for a wide range of industries, including manufacturing, construction, transportation, staffing & temporary help, commercial electric vehicles & charging infrastructure, and clean technology. We are a subsidiary of Mitsubishi HC Capital America and are committed to the United Nations Sustainable Development Goals to improve the communities where we operate. Visit www.mhccna.com/en-ca.