North Mill Equipment Finance announced the company reached an all-time high in monthly loan and lease originations in March. Funded volume surged to more than $24 million, a growth rate of 53 percent from last March and an increase of 22 percent from the company’s previous high-water mark last December.

“We’re firing on all cylinders,” said David C. Lee, Chairman and CEO, North Mill. “We reported a record-breaking year in 2020 and I anticipate that we’ll continue to see an upward trajectory as the economy opens up. First-quarter volume topped $54 million, an increase of more than 18 percent from Q1 of last year while our weighted average FICO climbed an additional 9 points to 717.”

Average deal size also hit a record for March, according to Lee, as it reached nearly $90,000 per transaction.

A strategic initiative that has had a resounding impact on North Mill’s success is its continued commitment to financing assets across an array of industries. Transportation, which made up nearly 100 percent of the firm’s asset portfolio a few years ago, now accounts for about 40 percent of funded volume. The company has expanded into many types of equipment including, but not limited to, construction, health care, franchise opportunities and livery.