SLR Business Credit acquired Fast Pay Partners. Based in Los Angeles, Fast Pay Partners enables clients to accelerate receivables and access liquidity through its asset-based lending and factoring platform, which primarily services media firms in the United States.
North Mill Capital promoted Karen Marino to senior vice president. Marino joined North Mill in 2015 and has been serving as both an account executive and underwriter.
The Secured Finance Network’s 76th Annual Convention, “This Way Forward,” will take place from Nov. 17 to 19 and will cover financial, economic and political disruptions that banks and finance companies face in the midst of a pandemic and the aftermath of the U.S. election.
North Mill Capital provided a $20 million accounts receivable and inventory credit facility to Reliable Tire Distributors, a wholesale tire distributor headquartered in Blackwood, NJ.
North Mill Capital provided a $4 million asset-based revolving line of credit to Tropical Aquaculture Products, which is an importer and distributor of seafood headquartered in Rutland, VT.
North Mill Capital provided an $18 million asset-based revolving line of credit to Optical Cable Corporation, which used the funds to refinance a prior lender and to provide additional working capital.
North Mill Capital provided a $1.25 million accounts receivable credit facility to Minneapolis-based Mighty Spark, which used the funds to provide additional working capital for growth and expansion.
North Mill Capital delivered a $1 million accounts receivable credit facility to Rebel Green, which provides a line of natural, eco-friendly household cleaning products.
North Mill Capital provided a $500,000 accounts receivable facility to The Right Staff, a professional employment firm with locations in Minneapolis.
North Mill Capital provided $4.4 million in recent accounts receivable credit facilities, including a $2 million facility to an LTL transportation company.