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."

INDUSTRY NEWS

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.

US Business Borrowing for Equipment Falls 2 percent in September
Investing.com

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.

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.

ADDITIONAL UPDATES

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makes sense for equipment finance companies to offer businesses digital financial services that are not restricted by outdated traditional protocols.

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.

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