North Mill Capital provided $4.4 million in three recent accounts receivable credit facilities.
First, North Mill Capital provided a $2 million accounts receivable credit facility to an LTL transportation company specializing in the transport and storage of products for industrial manufacturers throughout the Midwest. The business is headquartered in Wisconsin with additional locations in Ohio, Michigan and Indiana. North Mill Capital’s funding was provided simultaneously with a term loan provided by an equipment finance group. The company used the funds to repay a bank’s credit facilities and to provide ongoing working capital.
Secondly, North Mill Capital provided a $2 million accounts receivable credit facility to an Iowa-based consulting firm providing IT staffing and services to businesses throughout the country. The company used the funds to pay off a business manager A/R line at a bank and to provide additional working capital.
Lastly, North Mill Capital provided a $400,000 accounts receivable credit facility to a manufacturer of retail fixtures and point of purchase displays in Minnesota. The company provides engineering, design and metal fabrication services for retail environments. The company used the funds to pay down a bank and to provide additional working capital.
