North Mill Capital Closes $16MM in Fall 2014 Financings
North Mill Capital announced the closing of five financings in fall 2014 totaling approximately $16 million.
- A Wisconsin-based full service metal fabricator needed to replace its current bank lender. The solution: North Mill Capital provided a $2.5 million accounts receivable facility and another local bank provided an SBA loan, providing enough capital to replace the current lender and help facilitate growth.
- $1.5 million accounts receivable and inventory credit facility to a manufacturer and distributor of planters, outdoor patio and garden accessories. This Minnesota-based company needed incremental working capital for growth when the big box retailers to whom they sell decided to offer their products in store in addition to online. With a much larger facility this company will be able to produce enough product to meet their large seasonal needs.
- Working through an investment banking group, the owners of this metal recycling company in Illinois were introduced to North Mill Capital to assist in the acquisition of its largest vendor. NMC was able to provide the $10 million line of credit needed for working capital, revitalization and expansion for this multi-location company.
- $1.5 million accounts receivable credit facility to a manufacturer of gift boxes, glassware and accessories located in Minnesota. When their existing lender recognized that their borrower was growing faster than their ability to increase their line of credit, they contacted North Mill Capital and jointly they were able to provide enough working capital to meet their incremental needs.
- Unhappy with its current finance program, North Mill Capital was able to provide $500,000 an investigative company in Illinois with additional working capital. Funds will be used to support growth and expansion.