North Mill Equipment Finance (NMEF), an independent commercial equipment lessor headquartered in Norwalk, Connecticut, reported a new quarterly record in funded volume for Q3/24.
“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,” David C. Lee, chairman and CEO of NMEF, said. “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,” Mark Bonanno, president and chief operating officer of NMEF, said.
