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North Mill Capital Funds $10MM for GMT Corporation

February 26, 2016, 07:43 AM
Filed Under: Manufacturing

North Mill Capital announced the funding of a $10 million accounts receivable and inventory credit facility for GMT Corporation. The funds were utilized for corporate restructuring, paying out the prior lender, as well as providing a line compatible for growth based on the company's on-going working capital needs.
Located in Iowa, GMT Corporation, is a diversified manufacturer supplying the agriculture, construction, energy, and mining industries, as well as defense and other markets. With four production facilities covering 400,000 sq. ft., GMT can absorb large, complex production programs. Their services include plate-to-paint steel fabrication, product assembly, and machining of steel and iron.   

North Mill Capital LLC provides asset-based loans and factoring facilities to businesses with borrowing needs up to $30 million.

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