Daily News: July 18, 2013

North Mill Closes More Than $15MM in Credit Facilities


North Mill Capital funded three transactions totaling $15.85 million. The facilities comprise:

• A $5 million accounts receivable credit facility to a manufacturer, designer and distributor of medical devices and implants located in Minnesota; Funds were utilized to repay current bank debt and provide working capital for growth.

• An $850,000 accounts receivable credit facility to a snack food manufacturer and packager located in South Dakota; Funds were utilized to repay current bank debt and provide working capital for growth.

• A $10 million credit facility comprised of a $6 million accounts receivable credit facility and a $4 million term loan to a provider of laundry services to the healthcare and other industries in New York; Funds were utilized to provide working capital for future growth.