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North Mill EF Posts Record Originations for April

May 03, 2019, 07:25 AM
Filed Under: Company Announcements

North Mill Equipment Finance LLC announced record originations for April. It was the best month in the company’s history and the surge in volume is expected to continue as the year forges ahead.

“This was a tremendous team effort across the board and everybody at the firm should be proud of how far we have come over the past year,” said David Lee, Chairman and CEO of North Mill. “We also will be closing on a new larger credit facility, giving us substantially greater funding capacity for our originations.”

The firm continues to stay ahead of the curve with respect to obtaining facilities necessary to fund this level of robust growth; March also was an exceptional month in overall volume as the company witnessed its average deal size and credit rating increase appreciably since last year.

“As a 100 percent broker-centric lender, we remain staunchly committed to the referral agents with whom we work each day,” Lee explained. “It’s them we have to thank for our healthy vital signs; the hundreds of business associates who have stood by us and continue to believe in what we do. They represent the lifeblood of our firm.”

North Mill is a leading independent commercial equipment lessor located in South Norwalk, CT. It originates and services small-ticket equipment leases and loans, ranging from $15,000 to $300,000 in value. North Mill is majority owned by an affiliate of Wafra Capital Partners, Inc.

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