North Mill Equipment Finance | The Compass
Issue 8 2019
North Mill to Host Webcast Series
"Top 10 North Mill Enhancements to be Covered"
Steady, open dialogue between North Mill and the many brokers with whom we work is something that our company takes to heart. That's why we're so excited to unveil the North Mill Webcast Series.

As a lender that's 100% broker-centric, disseminating information and seeking it out in the form of referral agent feedback supports one of our fundamental principles -- the notion of transparency in the marketplace. Live web broadcasts are one way to support transparency as information flows freely, particularly when time is set aside for attendees to participate by asking questions and/or offering suggestions.
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YES! Register me for the webinar!
"Top 10 Enhancements at North Mill"
Friday, November 1, 2019, 2:00 - 2:30 pm ET
OR
Monday, November 4, 2019, 2:00 - 2:30 pm ET


North Mill Goes Digital with E-docs
North Mill

In order to enhance the service experience for our referral agents, North Mill recently introduced DocuSign "E-docs" to facilitate and expedite the processing of new deals.

E-docs have become extremely popular and businesses in many disparate industries -- particularly those in the financial services arena -- are using e-docs in daily operations. It's no wonder why when you consider the benefits they provide.
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ELFA Survey: 2018 Sees Moderate Compensation Growth
Monitor Daily

The 2019 Equipment Leasing and Finance Compensation Survey measures compensation rates for the 2018 fiscal year as reported by more than 75 companies representing a cross section of the equipment finance sector, including independents, banks and captives. Read More >>

Spending on Construction Equipment Grows 14 Percent: Report
Construction Equipment

Investment in construction equipment grew at an annualized rate of 14 percent in the second quarter, according to the Equipment Leasing and Finance Foundation. Investment is up 5.3 percent year-over-year, and is expected to be between 0 and 7 percent over the next four quarters. Read More >>

Commentary: The Demise of the Freight Brokerage
Freight Waves

The soft freight market of 2019 has caused the bankruptcy of 640 trucking companies, 11 of which are major carriers, accounting for the loss of over 3,000 jobs. For perspective, the whole of 2018 saw 318 carrier closures. The soft market and slowing global economy have been the nail in the coffin for some long-standing carriers like New England Motor Freight, Falcon Transport and LME. Read More >>

Tips to Grow a Business Facebook Page That Delivers Results
AZ Big Media

As of 2019, Facebook had more than 2.4 billion users across the world. More than 60 million businesses also operate a business page on Facebook, and the social media platform has helped small business owners and corporations cultivate and engage their audiences. Read More >>

NORTH MILL POSTS RECORD ORIGINATIONS FOR THE 3RD QUARTER 2019
North Mill announced record originations for the 3rd Quarter of 2019. The best quarter in North Mill's history, the company exceeded $43 million in funded volume representing a growth rate in excess of 30% from the prior quarter.

"We could not be happier with our continued growth, while diversifying our mix of asset categories, improving our credit profile and maintaining our yield targets," reported David Lee, Chairman and CEO of North Mill.

Historically known primarily as a lender for sub-prime owner operator, long-haul truckers, North Mill now counts non-transportation assets as its largest asset category and heavy-duty sleeper trucks as its smallest. For the 3rd Quarter, the company's weighted average FICO score for personal guarantors improved to 694, with over 40% of the funded volume having FICO scores over 700.

Moreover, as a 100% broker-centric organization, North Mill continues to focus its efforts on providing its referral agents with the products, services, and technology necessary to help them grow their businesses. The company has established more relationships with new brokers in 2019 than in any year prior.

What type of topics would you like us to discuss in an upcoming webinar?
Submit Answers >>

Equipment Finance Industry Confidence Decreased in September
The Monthly Confidence Index for the equipment finance market is 54.7 in September, a decrease from the August index of 58.9. 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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