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North Mill Capital Closes Three Transactions Totalling $6MM

January 30, 2014, 07:00 AM

North Mill Capital announced the  following transaction closings:      

  • $3 million accounts receivable credit facility and a term loan to a plastic injection molder located in Wisconsin. Funds were utilized to repay current bank debt and provide working capital for growth. NMC closed this transaction within 30 days to help the company eliminate legal costs being incurred with the current lender through forbearance agreements and extensions.                                                  
  • $1.5 million accounts receivable and inventory credit facility to a distributor of forms and graphics located in New Jersey.  Funds were utilized to repay the current lender in full and provide working capital.                          
  • 1.5 million factoring transaction to a foundry located in Wisconsin.  Funds were utilized to allow the company to take advantage of supplier discounts and reduce the debt to the current lender.

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