FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


North Mill Posts Record Originations for Q3

October 04, 2019, 07:15 AM
Filed Under: Company Announcements

North Mill Equipment Finance LLC announced record originations for the third quarter of 2019. The best quarter in North Mill’s history, the company exceeded $43 million in funded volume representing a growth rate in excess of 30 percent from the prior quarter.

“We could not be happier with our continued growth, while diversifying our mix of asset categories, improving our credit profile and maintaining our yield targets,” said David Lee, Chairman and CEO of North Mill.
Historically known primarily as a lender for sub-prime owner operator, long-haul truckers, North Mill now counts non-transportation assets as its largest asset category and heavy-duty sleeper trucks as its smallest. For the third quarter, the company’s weighted average FICO score for personal guarantors improved to 694, with over 40 percent of the funded volume having FICO scores over 700.
Moreover, as a 100 percent broker-centric organization, North Mill continues to focus its efforts on providing its referral agents with the products, services and technology necessary to help them grow their businesses. The company has established more relationships with new brokers in 2019 than in any year prior

Headquartered in Norwalk, CT, North Mill Equipment Finance originates and services small-ticket equipment leases and loans, ranging from $15,000 to $300,000 in value. Itis majority owned by an affiliate of Wafra Capital Partners, Inc.

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.