Daily News: January 30, 2014

North Mill Capital Announces Three Recent Facilities

North Mill Capital LLC announced it provided the following facilities:

  • a $3 million A/R credit facility and a term loan to a plastic injection molder located in Wisconsin. Funds were utilized to repay current bank debt and provide working capital for growth. NMC closed this transaction within 30 days to help the company eliminate legal costs being incurred with the current lender through forbearance agreements and extensions.
  • a $1.5 million A/R and inventory credit facility to a distributor of forms and graphics located in New Jersey. Funds were utilized to repay the current lender in full and provide working capital.
  • $1.5 Million factoring transaction to a foundry located in Wisconsin. Funds were utilized to allow the company to take advantage of supplier discounts and reduce the debt to the current lender.