Announcements
Taycor Financial to Become the Vendor Division of North Mill Equipment Finance
November 14, 2024NOVEMBER 8, 2024, NORWALK, CT – North Mill Equipment Finance, LLC (“NMEF”), a leading commercial equipment lessor located in Norwalk, Connecticut, announced today the acquisition of 100% of the stock of TF Group, Inc., (“Taycor Financial”), a preeminent, technology-driven finance provider in El Segundo, California. Taycor Financial will continue to operate as an independent division of NMEF, with a focus on developing direct and vendor origination programs.
NMEF’s partnership with, and substantial capital investment in, Taycor Financial over the past four years has been instrumental in expanding our commercial footprint” said David C. Lee, Chairman and CEO of North Mill. “As we take this next step to bring our companies even closer, we want to underscore that our dedication to our existing partners remains unwavering. This integration will further empower each division to build on its core strengths – with NMEF committed to nurturing and expanding our referral partner relationships, while Taycor focuses on developing vendor and direct programs.
Michael Hong, President of Taycor Financial, stated, “This partnership with NMEF represents an exciting opportunity to expand our capabilities and enhance our service speed across underwriting, documentation, and funding. While we look forward to leveraging our combined technology and resources, our dedication to exceptional customer care remains at the heart of everything we do. We will continue to operate under the Taycor Financial name with the same steadfast commitment to our clients and partners, fostering strong relationships, and delivering personalized, responsive support.”
About North Mill Equipment Finance (NMEF)
NMEF is a national, premier lender who works with third-party referral (TPR) sources to finance small to mid-ticket equipment commercial leases and loans ranging from $15,000 to $3,000,000 and up to $5,000,000 for investment grade opportunities. NMEF accepts A – C credit qualities and finances transactions for many asset categories including but not limited to medical, construction, franchise, technology, vocational, manufacturing, 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, Voorhees NJ, and Murray, UT. 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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Cloudsquare Broker Announces Fall ’24 Release: New Automation and Efficiency for Small Business Lending Brokers
November 12, 2024
Los Angeles, CA – November 12, 2024 – Cloudsquare, a leading innovator in lending technology, is proud to announce the Fall ’24 release of Cloudsquare Broker, its powerful CRM solution for small business lending brokers. This latest update introduces groundbreaking features designed to streamline deal management, boost productivity, and provide greater visibility and control over lending operations.
A Game-Changer for Small Business Lending Brokers
Cloudsquare Broker’s Fall ’24 release focuses on solving key pain points for brokers by providing tools that enhance process automation, increase transparency, and optimize workflow efficiency. These updates come in response to the growing need for comprehensive, adaptable solutions that can scale with a company’s growth.
New Features in the Fall ’24 Release Include:
- Notification Management: Users can now stay up-to-date on deal milestones with customizable, no-code triggers and real-time alerts, ensuring no crucial updates are missed.
- Enhanced Lender API File Submissions: Full transparency is achieved with individual status tracking, allowing brokers to monitor each file’s journey and resubmit swiftly as needed.
- Advanced Workflow Enhancements: Designed to optimize the submission user experience, these targeted improvements empower teams to manage submissions with greater precision, control, and speed, enhancing overall operational efficiency.
“Our team has worked tirelessly to deliver features that align with our customers’ needs for automation, efficiency, and adaptability,” said Jeffrey Morgenstein, CEO of Cloudsquare. “The Fall ’24 release of Cloudsquare Broker exemplifies our commitment to empowering small business lending brokers to maximize their potential with tailored solutions built on Salesforce.”
Availability
The Fall ’24 update is now available to all existing Cloudsquare Broker users. New customers can explore the full potential of this update through tailored demos and consultations.
For more information about the Cloudsquare Broker Fall ’24 release or to schedule a demo, please visit Cloudsquare.
About Cloudsquare
Cloudsquare is the leading end-to-end lending platform, uniquely powered by Salesforce to deliver unparalleled flexibility and innovation for lenders and brokers. With a commitment to optimizing lending processes through cutting-edge technology, Cloudsquare provides robust, scalable solutions that empower clients to achieve greater efficiency and growth. Celebrated by industry leaders, Cloudsquare has earned a place on the Inc. 5000 list as one of America’s fastest-growing companies and is consistently rated a top service provider on platforms like Salesforce AppExchange, G2, Clutch, and Manifest.
For media inquiries, please contact:
Cloudsquare Marketing
Email: marketing@cloudsquare.io
BriteCap Financial Welcomes Kenneth Weaver as Vice President of Enterprise Enablement
November 4, 2024BriteCap Financial LLC (“BriteCap”), a leading non-bank lender providing small businesses with fast, convenient financing, announced today the appointment of Kenneth Weaver as Vice President of Enterprise Enablement. Ken has over 15 years of experience in the business lending industry with a proven track record in transforming businesses through process optimization, change management, and strategic planning.
“Ken is joining the team at a very exciting period of transformation and rapid growth for BriteCap. Ken brings a wealth of experience and expertise in sales operations, project management, and enterprise-wide systems and workflow design for large, complex, multi channel origination platforms,” said Richard Henderson, CEO of BriteCap Financial. “His proven track record as a leader building streamlined, high-impact systems and processes will be invaluable as we continue to scale up our business.”
In his new role, Weaver will be responsible for leading BriteCap’s process optimization, overseeing technology integrations and reporting, and leading efforts to facilitate our rapid growth trajectory. “Ken’s tactical and strategic experience with enterprise processes, tools, change management, and industry knowledge are very timely for our transition and transformation. We are excited to have Ken join the team,” said Murugappen Chettiar, COO.
“I’m thrilled to be part of BriteCap as we embark on this transformative phase of growth. With a focus on strategic technology integration and data-driven enhancements, we’re building a strong, scalable foundation that will boost efficiency and allow us to better serve our customers and strategic partners,” said Ken Weaver. Weaver’s appointment comes at a pivotal time for BriteCap Financial LLC, as the company continues scaling and gaining market share in its broker channel.
About BriteCap Financial LLC
BriteCap Financial is a leading provider of working capital for America’s small business owners. Since 2003, BriteCap combines technology and non-traditional credit algorithms to provide fast, convenient and affordable working capital direct to businesses and through their broker network. For more information about becoming a partner, visit britecap.com/become-a-partner. BriteCap is majority-owned by a holding company affiliate of North Mill Equipment Finance.
About North Mill Equipment Finance (NMEF)
NMEF is a national premier lender who works directly with third-party referral (TPR) sources to finance “mid-ticket” equipment commercial leases and loans ranging from $15,000 to 3,000,000 and up to $5,000,000 for investment grade opportunities. The company accepts A – C credit qualities and finances transactions for many asset categories including but not limited to medical, construction, franchise, technology, vocational, manufacturing, 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, Voorhees NJ, and Murray, UT. For more information, visit www.nmef.com.
Media Contacts:
For BriteCap:
David Schneider
Vice President of Marketing
BriteCap Financial, www.BriteCap.com
david.schneider@britecap.com
954-494-1606
For NMEF:
Blair Dawson
SVP, Chief Marketing Officer
NMEF, www.nmef.com
bdawson@nmef.com
203-354-171
NMEF Achieves Record-breaking Month With Over $73MM in Funded Volume
November 4, 2024
NOVEMBER 4, 2024, NORWALK, CT – North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, proudly announces a new company record in monthly funded volume, surpassing $73 million in October, exceeding the previous high by over $15 million.
This remarkable achievement underscores NMEF’s continued commitment to growth and portfolio diversification. NMEF’s continued expansion into medical equipment financing beyond aesthetics has catapulted the medical category to become the largest in its portfolio, comprising 34% of all funded assets for the month. “This move aligns with NMEF’s strategy to broaden its asset mix beyond freight transportation,” said David Lee, Chairman and CEO of NMEF. “This accomplishment reflects not only the strength of our team, but also our commitment to building meaningful relationships with our partners, including other funding sources.”
NMEF’s record-breaking month reflects its ongoing commitment to innovation and operational efficiency, as well as its proactive approach to forging and nurturing relationships with key referral agents. “By granting our partners greater autonomy over the vendor and application processes, while ensuring compliance with NMEF’s rigorous standards for credit, documentation, and funding, the company has been able to significantly boost operational efficiency for both NMEF and its most loyal referral partners.” says Mark Bonanno, President & COO. “Through a focus on asset diversification and responsive financing structures, NMEF continues to deliver on its mission of passionately pursuing excellence for all stakeholders.”
About North Mill Equipment Finance
NMEF is a national, premier lender who works with third-party referral (TPR) sources to finance small to mid-ticket equipment commercial leases and loans ranging from $15,000 to $2,500,000 and up to $5,000,000 for investment grade opportunities. NMEF accepts A – C credit qualities and finances transactions for many asset categories including but not limited to medical, construction, franchise, technology, vocational, manufacturing, 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, Voorhees, NJ, and Murray, UT. 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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Osgood Bank Unifies Operations and Powers Post-Merger Growth with Support from Northteq’s Aurora LOS
October 29, 2024MINNEAPOLIS, MINNESOTA (October 28, 2024)—Following its recent acquisition of Accord Financial Group, Osgood Funding (Osgood) has streamlined operations, improved efficiency, and strengthened partner alignment in part by implementing Northteq’s Aurora Loan Origination System (LOS). This next-generation solution has empowered Osgood to unify teams and processes, simplify workflows, and establish a solid systems foundation for future expansion.
“With Northteq’s Aurora LOS, we were able to tackle one of the biggest challenges in a merger—bringing different systems and processes together successfully,” said Les Lee, senior director at Osgood Funding. “The platform’s functionality has given us immediate improvements, and its customization options allowed us to tailor processes to our business objectives.”
Aurora LOS enabled Osgood to replace outdated legacy systems with an automated platform that minimizes their team’s manual processes, reducing errors and improving service for both borrowers and vendors. The integration has allowed Osgood to offer a consistent and exceptional experience across all customer touchpoints.
The acquisition of Accord Financial Group marks the beginning of an exciting growth phase for Osgood. Powered by Aurora LOS’s scalable infrastructure, Osgood plans to increase its deal volume over the next year, meeting growing market demands while upholding operational efficiency.
“Being a part of Osgood Funding’s post-merger integration and growth story is truly rewarding,” said Kristian Dolan, chief executive officer at Northteq. “Aurora LOS was built for this kind of transformation—unifying teams and processes into one efficient, adaptable system. We’re proud that Northteq has helped Osgood establish a solid systems foundation, and we look forward to supporting their ongoing growth and success in the equipment finance industry.”
In an industry where mergers and acquisitions drive growth, Northteq’s Aurora LOS excels in supporting smooth transitions and long-term scalability. Osgood Funding’s success story highlights how Aurora’s flexible, all-in-one platform can simplify post-merger integrations, optimize operations, and ensure regulatory compliance—making it easier for lenders to thrive in a competitive market.
About Osgood Funding
Osgood Funding (formerly Accord Financial Group), a subsidiary of Osgood Bank, specializes in delivering tailored equipment financing solutions for the agricultural, construction, and material handling industries. With more than 30 years of expertise, the company is committed to providing fast, flexible, and hassle-free funding options to help businesses secure essential equipment. Osgood Funding’s mission is to deliver exceptional equipment financing, ensuring a seamless and stress-free process with personalized service and expert guidance. Located in Covington, Ohio, the company has facilitated over 20,000 deals and $675 million in funding since 1992.
Visit www.osgoodbank.com, www.osgoodfunding.com or contact (937) 473-5991 for more information.
About Northteq
Northteq, LLC is a Minneapolis, Minnesota-based fintech company that has empowered over 175 lenders to provide their borrowers, vendors, and employees with automated lending solutions that increase revenue and create better lending decisions. Aurora, Northteq’s flagship product, is an automated, Salesforce-powered loan origination system, vendor, and borrower portal.
Northteq carefully selects partnerships with industry-leading providers in credit, fraud detection, and other essential areas such as Middesk, PayNet, Mastercard Identity, FICO, Equifax, Experian, D&B, TimeValue, LexisNexis, Nintex, Ocrolus, Plaid and more. By choosing the best partners, Northteq offers lenders streamlined turnkey app integrations that allow them to make smarter, automated lending decisions.
Northteq is now primarily owned by Arthur Ventures, a respected Minneapolis-based early growth capital firm known for leading investments in B2B software companies. This partnership positions Northteq for continued growth and innovation. Since 2013, Arthur Ventures has partnered with over 50 companies across the United States and Canada. For more information, please visit northteq.com.
Alliance Funding Group Upsizes Investment-Grade Corporate Note to $50 Million
October 23, 2024Tustin, CA – Alliance Funding Group (AFG), a leading privately-held equipment finance company, announced the successful upsizing of its corporate notes to $50.0 million. This upsize will be used to facilitate growth and for working capital needs.
AFG is a market-leading vendor direct specialty finance company that provides small-ticket and middle-market equipment leasing, financing and working capital solutions to a broad range of businesses throughout the U.S. Since inception, the Company has funded more than $3.0 billion to over 25,000 businesses and is recognized as one of the fastest growing independent leasing companies in the country.
“We are thrilled about the closing of our third corporate note raise. This incremental capital will allow us to further scale our business and make strategic investments” stated Brij Patel, CEO of AFG. “This further cements our position as a premier independent equipment leasing company.”
Brent Hall, AFG Senior Vice President, added, “The additional capital will be allocated to fund AFG’s strategic growth initiatives, enhancing the flexibility of our capital structure. We appreciate the ongoing backing of our institutional investors, and the confidence they have in our platform.”
Brean Capital, LLC served as the Company’s Exclusive Financial Advisor and Sole Placement Agent in connection with the transaction.
About Alliance Funding Group
Alliance Funding Group was founded in 1998 and has grown to become one of the largest privately held equipment finance companies in the U.S. AFG provides leasing and financing solutions to a wide variety of businesses across a defined spectrum of credit types. AFG currently operates out of its headquarters in Tustin, California with offices in Los Angeles and Carlsbad, CA, Portsmouth, NH, Austin, TX, and Tacoma, WA.
For more information, visit: www.afg.com
Contact:
Name: Brent Hall
Title: Senior Vice President
Email: BHall@afg.com
Rapital Launched to Support SMEs With Challenging Credit Situations
October 14, 2024A new Australia online lender has today been launched in response to evolving SME funding needs.
Rapital is set to transform the financial landscape to support both brokers and SME businesses facing difficulty in securing funding from existing lenders and banks.
Rapital will focus on offering a direct route for clients with challenging credit situations, such as low credit scores, with loans ranging between $5,000 and $250,000. With a focus on offering fast funding, Rapital aims to make decisions in as little as three hours so SMEs can access the cash boost they need quickly.
Access to funding remains an evergreen challenge for Australia’s SME community. According to a survey by Small Business Loans Australia, 90% of businesses indicated they would exercise caution in borrowing more money in 2024. Despite this caution, business loan demand has spiked, as reported by the Australian Financial Review. Rapital has been launched to help bridge the financing gap, providing SMEs that have been denied funding from traditional lenders with the essential cash boost they need to thrive.
Rapital’s ambition is to help turn a “no” into a “yes” for SMEs needing rapid and flexible financing solutions. The service promises an easy, transparent process with quick funding, empowering businesses to thrive and grow. In these challenging operating conditions, it is vital that smaller businesses have access to rapid and flexible capital. Rapital will offer a much-needed financial lifeline to the business profiles and industries that are often rejected by banks and other SME lenders.
About Rapital
Rapital’s mission is to empower businesses of all sizes, credit backgrounds and industries by providing brokers and SMEs with funding solutions tailored to meet the real-world challenges they encounter.
For media inquiries, please contact:
Rapital Media Team
Email: info@rapital.com.au
Website: http://www.rapital.com.au
Blair Dawson Joins North Mill as Chief Marketing Officer
October 7, 2024October 7, 2024, NORWALK, CT – North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, announced today that Blair Dawson has joined the Company as Senior Vice President and Chief Marketing Officer.
“NMEF has been experiencing significant growth in recent months, expanding its reach across the equipment finance industry. The company’s commitment to diversifying our product offerings and fostering innovative financial solutions positions us for continued success,” said David Lee, CEO. “Blair’s expertise will be instrumental as we continue our expansion and strive to further solidify our place as a leader in the market.”
“I am thrilled to be joining NMEF during such an exciting phase of its growth,” said Dawson. “The team’s dedication to innovation and customer-centric solutions aligns perfectly with my approach to marketing and strategic development. I look forward to collaborating with the NMEF team to build on their success and drive even greater achievements.”
Prior to founding Sterling Rose Marketing & Communications Solutions in June 2023, Blair served as Executive Director & General Manager of the STRIPES Leadership Program, where she spearheaded program growth and leadership development initiatives. Her journey in the equipment finance industry began in 2019 when she joined the National Equipment Finance Association (NEFA) as Vice President of Marketing and Events. Blair holds a Bachelor of Science degree in Marketing from Saint Joseph’s University.
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.
CONTACT: Blair Dawson, CMO
PHONE: (203) 354-1710
EMAIL: bdawson@nmef.com
