Daily News: April 23, 2014

North Mill Closes $30MM Loan Facility with East West Bank

North Mill Equipment Finance entered into a $30 million senior loan facility with East West Bank. The new facility is in addition to the company’s existing $50 million facility and will enable North Mill Equipment Finance to continue expanding its business of originating small-ticket equipment leases and loans through brokers, vendors and dealers.

Gary Silverhardt, president and CEO of North Mill Equipment Finance, said, “We’re very happy the East West Bank team expressed its confidence in our business. The new loan facility will help us continue expanding our equipment finance activities, particularly in California where East West Bank is headquartered, and it will enable us to continue providing our customers with superior service.”

Based in Norwalk, CT, North Mill Equipment Finance is a specialty finance company with a long history of leasing equipment in the small-ticket sector as well as purchasing and servicing equipment lease portfolios from banks and other specialty finance companies.