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North Mill Capital Announces Transactions
June 8, 2020
Source: North Mill Capital
North Mill Capital is pleased to announce the funding of the following transactions:
$1,750,000 asset-based revolving line of credit to a wholesaler and distributor of pure maple syrup in Wisconsin. Together with CRF USA's SBA loan, the company was able to repay the bank's revolving facility and mortgage loan. The funds will also be used to provide additional working capital to support the company's growth.
$500,000 accounts receivable credit facility to an Illinois manufacturer of springs and metal stamping for the automotive industry. The company was a previous client that left a few years back to self-finance. The company found themselves in need of A/R financing again and contacted North Mill to see if they could come back. The funds were used to pay off two MCA lenders and provide additional working capital for the company.
$500,000 accounts receivable credit facility to a trucking company in Pennsylvania. The company does both short and long-haul trucking and has been in business for over 30 years. The funds were used to pay off the bank and provide additional working capital for the company.
North Mill Capital provides asset-based loans and factoring facilities from $50,000 to $30 million to businesses in the United States. NMC is headquartered in New Jersey with regional offices in Minnesota and Utah and with sales offices throughout the country. North Mill Capital LLC is a portfolio company of Solar Senior Capital Ltd.
For further information, please contact Dan Tortoriello at (609) 917-6202 or DanT@NorthMillCapital.com.
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