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


North Mill Capital Provides $2.9MM Equipment Financing to Devault Packing

March 16, 2018, 07:20 AM
Filed Under: Finance News

North Mill Capital LLC, a wholly owned subsidiary of Solar Senior Capital Ltd., has provided a $12.9 million of Total Credit Facility to Devault Packing Company Inc.

The funding was comprised of a $10 million asset-based lending credit facility, which encompassed both accounts receivable and inventory, and a $2.9 million equipment term loan. The funds were utilized to pay off the previous lender and provide working capital for the company.

Devault is a meat processor specializing in the sale of beef to the fast food, restaurant and food services industry. With its headquarters in Malvern, Pa., it has the capacity to manufacture and distribute over 2 million pounds of product weekly from its 114,000-square-foot production facility.

Based in Princeton, N.J., North Mill Capital provides asset-based loans and factoring facilities from $50,000 to $30 million.

Comments From Our Members

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