Your Questions, Answered.

If you have further questions, speak to an expert at North Mill Capital by calling 609.917.6200 today

Your Questions, Answered.

If you have further questions, speak to an expert at North Mill Capital by calling 609.917.6200 today

What types of industries does North Mill serve?

We offer invoice factoring and asset-based lending, leveraging accounts receivable, inventory, equipment, and commercial real estate assets, to the following industries:

  • Manufacturing Companies
  • Distributors and Wholesalers
  • Service Providers, Freight, and Trucking Firms

How Does Invoice-based Financing Work?

Invoice-Based Financing can make all the difference in your cash flow. The process is simple: we give you a line of credit using your outstanding invoices as collateral, and your loan is repaid as your clients pay those invoices. The structure is flexible; in addition to your outstanding accounts receivable, we can often consider inventory, equipment, and commercial real estate as a mix of additional collateral for the loan.

How does asset-based lending work?

At North Mil Capital, we help well-managed companies handle a temporary cash crunch. Asset-based lending uses your company’s assets as collateral for a line of credit to give you working capital when you need it. The collateral is outstanding invoices, and other assets such as inventory, equipment, and commercial real estate. As customers pay their bills, your loan is repaid.

How does inventory financing work?

Inventory financing also helps companies that need a boost with cash flow. We provide a line of credit to help with operating expenses, seasonal slowdowns, or expansion. Inventory financing uses physical inventory in addition to accounts receivable as collateral for the loan. You pay back the loan, or line of credit, when the inventory is sold through the use of our Invoice-Based Financing programs.

What kind of company is your typical client?

We work with well-managed companies that sell to reliable customers. Most of our clients have a need for additional working capital to cover operating expenses. If you are waiting on unpaid invoices, we can increase your cash flow.

What other services do you provide?

We provide professional accounts receivables management services. We make sure you have the best opportunity to improve cash flow with financing that leverages your existing assets, such as accounts receivable, inventory, equipment, or commercial real estate. We can also assist you with credit approval services and collection services.

If my company owes back taxes, does it affect the loan?

Yes. If your company owes unpaid taxes to a federal, state, or other governmental tax authority, that obligation may supersede paying back private loans. We work with you and the taxing authority to develop a repayment plan before setting up your financing with North Mill Capital.

How do you establish your fees?

Our fees are based on a number of different factors:

  • The size of the credit facility, or your maximum line of credit
  • The track record of your business
  • The financial strength of your customers
  • The payment record of your customers

Will North Mill Capital approve all of my customers for financing?

When you apply for financing, we ask for a list of your customers, including names and addresses. We perform credit approvals for each of your customers and establish individual credit limits.

Do you offer purchase order financing or financing for work in progress?

We often provide financing for work in progress, and we partner with companies who offer Purchase Order Financing .

How will my customers know to send the invoice payment to North Mill? Where do they send the payment?

When you begin your financing relationship with us, we send a letter to your customers on your company letterhead. The letter identifies North Mill Capital as your financing source, and authorizes us to accept payment on your behalf. Your customer will pay North Mill Capital directly, via a regional lock box.

What is the impact on my customer, and will it change our existing relationship?

We take special care to manage the payment transition smoothly. North Mill Capital understands the importance of your relationships with your customers. We handle the transactions with discretion, and there should be no change in your relationship.

MORE OPTIONS FOR YOUR BUSINESS

North Mill Capital’s loans provide a way to get value from your assets, especially when you cannot obtain sufficient bank financing. And your financing can be customized to suit your exact cash flow needs, from the following options: