North Mill Capital provided $2.75 million in recent transactions, including a $1.75 million asset-based revolving line of credit to a wholesaler and distributor of maple syrup in Wisconsin. Together with a CRF USA SBA loan, the distributor repaid a bank revolving facility and mortgage loan. The funds also will be used to provide additional working capital to support the company’s growth.
North Mill Capital also provided a $500,000 accounts receivable credit facility to an Illinois manufacturer of springs and metal stamping for the automotive industry. The company was a previous client that left a few years back to self-finance. The company found itself in need of A/R financing again and contacted North Mill Capital. The funds from this facility were used to pay off two MCA lenders and provide additional working capital for the company.
Lastly, North Mill Capital provided a $500,000 accounts receivable credit facility to a trucking company in Pennsylvania. The company does both short and long haul trucking and has been in business for more than 30 years. The funds from this facility were used to pay off a bank and provide additional working capital for the company.
North Mill Capital provides asset-based loans and factoring facilities from $50,000 to $30 million.