North Mill Equipment Finance LLC, a leading commercial equipment lessor located in Norwalk, Conn., announced that it achieved the largest quarterly and first half origination volumes in its history.

Originations hit a record $277 million in the second quarter, bringing first half 2025 production to an unprecedented $520 million, an increase of over 100% versus first half 2024. Including the acquisition of Pawnee’s assets that went onto NMEF’s balance sheet on April 1, total origination volume for the second quarter was $607 million and for the first half of 2025 was $850 million.

For the first half of 2025, NMEF also reported a meaningful increase in credit quality, evidenced by a higher weighted average FICO of 745. The largest equipment categories were medical (23%), franchise (13%), construction (12%), and IT (8%). Long haul trucks comprised less than 2% of volume. Corporation only transactions represented over 25% of volume.

David Lee, Chairman and CEO of NMEF, commented, “Reaching these new highs is a direct result of executing our strategy to diversify and scale. We’ve invested heavily in building a platform that supports more sophisticated transactions, and it’s gratifying to see that translate into stronger credit profiles, larger deals and further industry diversification. Moreover, a majority of our dollar volume now consists of mid-ticket, fully underwritten transactions.”

Mark Bonanno, President and Chief Revenue Officer, added, “Our record growth is made possible by the trusted long-term relationships with both our NMEF brokers and our Taycor vendor partners. By staying agile and solution-oriented, we’re able to meet their evolving needs and help drive mutual growth. We’re excited to keep this momentum going into the second half of the year.”

Tom Lyle, EVP and COO, stated, “In less than two years NMEF has doubled from $1 billion to $2 billion in assets under management. The internal restructuring of our operations, reporting lines and integration of Pawnee’s talented employee base, have NMEF well positioned to continue scaling to our goal of $5 billion by the end of the decade.”