North Mill Sets New Quarterly Origination Record

October 1, 2024, NORWALK, CT – North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, announced today that the company reported a new quarterly record in funded volume for the third quarter of 2024.

“Our continued progress in diversifying our asset categories in partnership with our referral partners coupled with our strong capital base has allowed us to thrive during these difficult economic times for the transportation sector,” said David C. Lee, Chairman and CEO, North Mill.

According to Lee, “NMEF continues to rebalance its book of business away from freight transportation related collateral, both local and long-haul, which was less than 13% of our third quarter volume. Medical, franchise, and construction collectively now represent more than half of our funding volume.”

“With the closing of our $404 million eighth ABS securitization in August and the continued support of our bank warehouse lending partners, NMEF is poised to continue funding originations at ever increasing volume levels,” said Mark Bonanno, President and COO, NMEF.

About North Mill Equipment Finance

NMEF originates and services small to mid-ticket equipment leases and loans, ranging from $15,000 to $2,500,000 in value. A broker-centric private lender, the company accepts A – C credit qualities and finances transactions for many asset categories including construction, transportation, vocational, medical, manufacturing, technology, franchise, renovation, janitorial and material handling equipment. NMEF is majority owned by an affiliate of InterVest Capital Partners. The company’s headquarters are in Norwalk, CT, with regional offices in Irvine, CA, Murray, UT and Voorhees NJ. For more information, visit www.nmef.com. One of NMEF’s controlled affiliates, BriteCap Financial LLC, is a leading non-bank lender providing small businesses with fast, convenient financing alternatives such as working capital loans since 2003 from its main office in Las Vegas, NV. For more information, visit www.britecap.com.

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