North Mill Equipment Finance has increased the size of its senior loan facility with Wells Fargo Capital Finance to $75 million. The increased loan facility will enable North Mill to expand its business of originating small-ticket equipment leases and loans throughout the United States through third party referral sources. Based in Norwalk, CT, North Mill is a commercial equipment finance company with extensive experience leasing business-essential equipment in the small-ticket sector.
Gary Silverhardt, President and CEO of North Mill, views this loan facility enhancement as an opportunity to continue growing in the company’s target markets of transportation, construction and materials handling. He stated, “We are very happy that the Wells Fargo team expressed its confidence in North Mill by increasing the size of its commitment. It enables us to expand our equipment leasing activities and to continue providing our third-party referral sources and end-users with superior service.
Andrea Petro of Wells Fargo Capital Finance said, “We are pleased to continue our commitment to North Mill Equipment Finance. The enhanced loan facility provides additional senior capital the
company needs to finance loans and leases for its customer base. We are proud to have been able to work with a leading independent equipment finance company like North Mill and we look forward to supporting the company’s plans for continued growth.”
North Mill has over 55 years of experience originating equipment leases and loans.
North Mill is a subsidiary of Colford Capital Holdings LLC, a New York City based holding company that is building a diversified and industry-leading specialty finance and asset management business through acquisitions, strategic partnerships and new business development. In addition to North Mill Equipment Finance, Colford owns North Mill Capital, a national asset based lending and receivables factoring company based in Princeton, NJ. Colford is majority owned by Monitor Clipper Partners, a private equity firm that targets growth-oriented businesses with strong management teams and currently manages over $2 billion in capital.