North Mill Equipment Finance Enters Mid-Ticket Financing Space, Increases App Only Maximum to $250K



North Mill Equipment Finance has entered the mid-ticket financing sector by offering referral agents the opportunity to finance up to $1 million for their customers through the company’s Application Plus program.  Additionally, North Mill enhanced its Application Only solution by extending the maximum amount financed from $150,000 to $250,000. Both changes are now in effect.

“North Mill is in a steady state of product development and operational improvement in support of the broker channel,” David C. Lee, chairman and CEO of North Mill Equipment Finance, said. “As an organization that considers referral partners an extension of our team, we regularly solicit their feedback. They requested we finance larger-sized transactions through both our Application Only and Application Plus programs and we responded in kind. We expect to see relationships deepen even further with those referral partners who consider North Mill their primary go-to-lender.”

North Mill offers brokers two primary financing arrangements: Application Only and Application Plus.  The former is a solution for customers looking for turnaround financing that does not require considerable documentation and/or time to process.  As the company’s most popular financing arrangement, the expansion to $250,000 will make the program that much more appealing, especially as the guidelines for the program have not changed.

The increase in the Application Plus program to $1 million opens new opportunities for referral partners as they enter a market they’ve never had access to through North Mill: the mid-ticket financing space. Given that the company’s average deal size continues to expand and the number of Application Plus transactions continues to rise, the new parameters are expected to usher in a new set of customers seeking larger-ticket financing to acquire the capital necessary to operate their businesses. As a fully-underwritten mid-ticket program, submission requirements for North Mill’s Application Plus program remain largely the same, with documentation such as bank statements, tax returns and personal financial statements from owners required.


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Terry Mulreany
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