North Mill Equipment Finance | The Compass
Issue 3 2019
Re-Fi/Cash-Out Program: Your Solution to Equipment Refinancing
North Mill's Re-Fi/Cash-Out Program is a flexible product that allows your customers to refinance an asset, or pull out equity on an eligible unencumbered asset to use for business purposes. The company developed the program to address two needs for qualified customers: first, to help those looking for cash, and second, to provide a solution for those who have an existing lien against an asset they'd like to refinance. Read More >>



Power Up Your Prospecting: Part II
North Mill

A few years ago, we ran a series of articles in The Compass covering key guidelines for equipment finance brokers to adhere to when prospecting for dealers and/or customers. All in, there were ten recommendations to follow. We updated the series with some new information, new techniques, and new ideas. The second of three installments is presented in this issue of our newsletter. Read More >>

U.S. Heavy Equipment Makers Feeling Pain from Tariffs, Disputes: Report
Reuters

U.S. makers of bulldozers and other heavy equipment are raising prices, losing sales and in some cases beginning to trim workers in response to the Trump administration's protracted trade disputes with various countries, according to a new report. An economic analysis conducted on behalf the Association of Equipment Manufacturers and set to be released on Monday by IHS Markit, notes that increased costs and the disruption of supply chains will slowly filter through the overall economy, gradually raising prices for finished goods and curbing employment over the next decade. Read More >>

Clarification on Leases Standards
Asset Finance International

The Financial Accounting Standards Board (FASB) has issued an accounting standards update (ASU) to address two implementation issues facing lessors and make clear that lessees and lessors are exempt from a certain interim disclosure requirement associated with adopting the new leases standard. The new ASU aligns the guidance for fair value of the underlying asset by lessors that are not manufacturers or dealers in Topic 842, with that of existing guidance. Read More >>

NEFA's National Equipment Finance Summit Achieves Record Highs
Cision

The National Equipment Finance Association (NEFA) is pleased to announce the 2019 National Equipment Finance Summit held in Newport Beach, CA on Wednesday, March 13th through Friday, March 15th set new records for conference registrants and first-time attendees. Read More >>

Will the Bull Run Continue for Transport Services Industry?
Yahoo Finance

The transportation sector seems poised well for both the near and the long term due to robust freight demand on the back of a strong economy. Substantial surge in manufactured goods, massive tax hauls and business-friendly policies of the government are anticipated to fuel the transportation sector's growth. Consequently, the companies offering equipment financing and leasing, logistics and supply chain management services to transporters are also likely to perform well in the near future. Read More >>

U.S. business borrowing for equipment falls 24 percent in February: ELFA
Reuters

U.S. companies' borrowing to spend on capital investments fell 24 percent in February from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Friday. Companies signed up for $5.9 billion in new loans, leases and lines of credit last month, down from $7.7 billion a year ago. The fall was 18 percent, when compared to the previous month. Read More >>

3 Tax Tips for Freelancers - By Freelancers
Fox Business

With the changes made by the Tax Cuts and Jobs Act not well understood by many Americans, taxes in the United States can be confusing enough for employees. Being a freelancer or independent contractor adds another layer of complication. For example, did you know there are three additional types of retirement accounts available to self-employed individuals that are not accessible to employees? Read More >>
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North Mill Hires Craig Hohl as Sr. Vice President, Chief Information Officer and Jennifer Khan as Controller
North Mill announced the appointments of Craig Hohl as Sr. Vice President, Chief Information Officer and Jennifer Khan as the company's Controller.

Reporting to North Mill's Chief Operating Officer, Mr. Hohl will leverage his more than 25 years of technical leadership in the financial services industry to design and implement a technology strategy that supports North Mill's robust growth rate.

Before joining North Mill, Mr. Hohl was the Head of Technology at Amur Capital Management, overseeing all aspects of technology and communication across the company's global subsidiaries, including Amur Equipment Finance. Prior to that, he was the Head of IT Digital Business at Chubb Insurance and held various roles including eBusiness CIO at Prudential Financial during a fifteen-year period. He graduated from Clarkson University with a BS in mathematics and computer science.

Reporting to North Mill's Chief Financial Officer, Ms. Khan brings 13 years of financial services experience to the company. She's responsible for financial reporting, budgeting and forecasting. Prior to joining North Mill, she was a Fund Controller for a private equities firm. She also worked as a Regional Accounting Services Manager where she managed the accounting and financial preparation for more than 135 homeowner associations. Ms. Kahn graduated from the University of Bridgeport with a BS in accounting..

Equipment Finance Industry Confidence Increased in July
The Monthly Confidence Index for the equipment finance market is 57.9 in July, an increase from the June index of 52.8. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector.

Read More >>

For more information on articles in The Compass, or if you're interested in learning how to become a North Mill Referral Source, please email Paul Cheslock, VP of Customer Relations at pcheslock@nmef.com or call 1-203-354-1283.


This newsletter includes links to other websites and the content within. The articles that link outside this newsletter have not been generated by, nor are they endorsed by, North Mill Equipment Finance LLC. The aggregated content is simply intended to provide direct access to information that a Referral Source may find useful.

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