Daily News: January 29, 2013

North Mill Capital Announces $4.55MM in Fundings


North Mill Capital announced the funding of the following transactions:

  • $2.6 Million credit facility to a processor and converter of protective and decorative packaging located in NJ. The total credit facility is comprised of an $1.8 Million accounts receivable revolving line of credit and an $800,000 term loan. This allowed for repayment of the current bank debt in full and generated additional working capital.

  • $750,000 accounts receivable factoring facility to a producer of custom molded parts and assemblies located in WI. Funds were utilized to provide working capital.

  • $1.2 Million accounts receivable and inventory credit facility to an importer and distributor of wines and spirits located in NJ. The credit facility gave the company additional working capital after it emerged from bankruptcy.