North Mill Equipment Finance Closes $30 Million Loan Facility with East West Bank

North Mill Equipment Finance Closes $30 Million Loan Facility with East West Bank

North Mill Equipment Finance LLC has entered into a $30 million senior loan facility with East West Bank.  The new facility is in addition to the company’s existing $50 million facility and will enable North Mill Equipment Finance to continue expanding its business of originating small-ticket equipment leases and loans through brokers, vendors and dealers.  Based in Norwalk, CT, North Mill Equipment Finance is a specialty finance company with a long history of leasing equipment in the small-ticket sector as well as purchasing and servicing equipment lease portfolios from banks and other specialty finance companies.

Gary Silverhardt, President and CEO of North Mill Equipment Finance, said, “We’re very happy the East West Bank team expressed its confidence in our business.  The new loan facility will help us continue expanding our equipment finance activities, particularly in California where East West Bank is headquartered, and it will enable us to continue providing our customers with superior service.”

Andrew Stein, Senior Vice President of East West Bank said, “We are delighted to be working with a leading independent specialty finance company like North Mill, and we’re gratified that our loan facility will help the company to continue growing its business in California and throughout the United States.”

About North Mill Equipment Finance

North Mill Equipment Finance is a subsidiary of Colford Capital Holdings LLC, a New York City based holding company that is building a diversified and industry-leading specialty finance and asset management business through acquisitions, strategic partnerships and new business development.  In addition to North Mill Equipment Finance, Colford owns North Mill Capital, an asset based lending and receivables factoring company based in Princeton, NJ.  Colford is majority owned by Monitor Clipper Partners, a private equity firm that targets growth-oriented businesses with strong management teams and currently manages over $2 billion in capital.  For more information about North Mill Equipment Finance, visit www.northmillef.com.  For more information about Colford Capital, visit www.colfordcapital.com.

About East West Bank

East West Bank is a Pasadena, California based commercial bank serving consumers and businesses throughout the U.S. and in Greater China.  For more information, visit http://www.eastwestbank.com.

 

For further information, contact:

Gary Silverhardt, President and CEO

North Mill Equipment Finance LLC

Phone:  (203) 354-6006

Email:    gsilverhardt@northmillef.com

Andrew Stein, Senior Vice President

East West Bank

Phone: (212) 298-3810

Email:   andrew.stein@eastwestbank.com

 

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