North Mill Equipment Finance | The Compass
November 2018    |    Issue 24
North Mill Announces New, Simple Early Payoff Policy
North Mill Equipment Finance is pleased to announce its revised and simplified payoff policy for customers: all new loan contracts include a straightforward and crystal-clear payoff policy that we call "5-3-1."

Private Sales: An Alternative to the "Standard" Transaction
North Mill

For some business people, visiting a dealer to purchase a piece of equipment may not be the most beneficial option. Sometimes, buying directly from the owner in what’s called a “private sale” or “peer-to-peer” transaction is preferred.

Equipment Leasing & Finance Industry Horizon Report

The 2018 Equipment Leasing & Finance Industry Horizon Report is a hybrid version of the annual State of the Equipment Finance Industry report (SEFI) combining the best elements of prior SEFI reports and the quadrennial market sizing study. The Equipment Leasing & Finance Foundation commissioned Keybridge to conduct this comprehensive research on the size and expected growth of the U.S. equipment finance market. Read More >>

10 Key Issues in Addressed Lease Agreements for Companies
The National Law Review

A company needs to acquire new capital equipment and asks its bank for an equipment lease agreement instead of a loan. When it first reads the terms and conditions of equipment lease contracts, the company may wonder why certain additional terms are included in the lease contract as compared to a standard equipment loan and security agreement. Read More >>

Are You Being Held Hostage?
Equipment Finance Advisor

Business customers are increasingly choosing digital options when it comes to fulfilling their financial needs. This shift to digital financing is primarily due to the saturation of wireless data, and smartphones in both their personal and business lives. As people become more comfortable with using online banking in their personal lives, it makes sense for equipment finance companies to offer businesses digital financial services that are not restricted by outdated traditional protocols. Read More >>

Lease or Loan? What You Need to Know to Decide
Equipment Finance Advantage

As the economy continues to improve, more businesses are making capital investments to fuel their growth. When business owners and managers consider acquiring equipment. they often think of their payment option as a "lease versus buy" decision. Read More >>

US Business Borrowing for Equipment Falls 2 percent in September

U.S. companies' borrowing to spend on capital investment fell 2 percent in September from a year earlier, a trade group representing capital equipment lenders said recently. The companies signed up for $8.5 billion in new loans, leases and lines of credit last month, down from $8.7 billion a year earlier, ELFA said. Read More >>

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North Mill Hires Paul Cheslock as VP Customer Relations
North Mill Equipment Finance has hired Paul Cheslock as Vice President of Customer Relations.

Cheslock brings 27 years of experience leading customer relations and sales teams in various sectors of the financial industry with an emphasis on the equipment finance space. He's worked with international corporations like GE Leasing Solutions as Sales Manager, as Vice President of Indirect Markets for Boston-based fintech, Time Payment, and most recently as Vice President of Sales for Lease Q, an online lending start-up.

"I'm thrilled that Paul has joined us to help introduce a level of service for our referral source partners in the small ticket segment," said David C. Lee, North Mill CEO. "We rely exclusively on our referral source partners to promote our solutions and Paul's experience fits perfectly into our strategy."

Mr. Cheslock will be responsible for managing, servicing, and growing the company's broker relationships. He'll play a significant role in establishing new technologies and new products designed to enhance the broker experience from the submission of a transaction through to its approval and funding. Additionally, he'll monitor satisfaction levels and gauge progress by establishing KPIs as well as service level agreements and standard operating procedures.

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 Catherine Cuthbertson at or call 1-800-223-6630.

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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