North Mill Equipment Finance | The Compass
February 02, 2016    |    Issue 10
How Long Can Americans Make Do With Aging Equipment?
The verdict is in – according to Equipment Leasing and Finance Association's most recent report, 2016 will be urging many companies to be out with the old and back in with the new. According to ELFA's Top 10 Equipment Acquisition Trends for 2016, it will be a sweet '16 for equipment finance agents with decision makers poised to spend.

With shifting financial and political climates on the horizon, this year provides the ideal scenario for companies to upgrade their aging capital investments.
Read More >>



DEVELOP SUCCESSFUL HABITS IN 2016
North Mill Equipment Finance

The new year is an opportunity for many things, both in our personal and our professional lives. Success as a referral agent is attributed to many things, but one area of particular importance has to do with the habits that you form and stick to on a daily basis. Forming successful habits in 2016 can be achieved by gaining a new perspective on your career, and by looking at things from the right angle moving forward. Read More >>

TOP 10 EQUIPMENT ACQUISITION TRENDS FOR 2016
Equipment Finance Advantage

Given U.S. businesses, nonprofits and government agencies will spend over $1.6 trillion in capital goods or fixed business investment (including software) this year, financing a majority of those assets, these trends impact a significant portion of the U.S. economy. Read More >>

SMALL BUSINESS GETS A PERMANENT TAX BREAK ON BUYING EQUIPMENT
The New York Times

Tucked inside the mammoth tax and spending bill passed by Congress last month is a much-anticipated provision that will lock in a large tax break for small-business capital investments that has been temporary until now. Read More >>

REPORT: US WILL SURPASS CHINA AS TOP MANUFACTURER BY 2020
MultiBriefs

A report predicts the United States will regain its former position as the No. 1 manufacturing producer in the world, surpassing China by 2020. This study was a result of dozens of face-to-face interviews with chief research leaders, chief technology officers and directors of national research facilities. Read More >>

INTEREST RATE SPREADS CONTINUING TO INCREASE
Equipment Finance Advisor

From the fourth quarter Phoenix Management “Lending Climate in America” Survey, results shows continued expectations for interest rate spreads to increase indicating a less attractive market for borrowers moving forward into 2016. Read More >>

PLANNING FOR RETIREMENT WHEN YOU'RE YOUNG AND SELF-EMPLOYED
The Huffington Post

With a third of self-employed millennials running start-ups, they may be the most independent generation to date. There is a price to pay, though, for being your own boss. Entrepreneurs forego regular income and traditional-employment benefits such as company-sponsored retirement plans with regular contributions. Read More >>

MEDIUM AND HEAVY TRUCK SALES DOWN IN DECEMBER, UP FOR YEAR
Trailer Body Builders

Medium and heavy truck sales down 1 percent in December, up 9 percent for 2015 Medium and heavy truck sales were down 1 percent in December over the same period a year ago and up 9 percent for 2015, according to figures compiled by WardsAuto.com. Read More >>

5 WAYS TO IMPROVE LOCAL VISIBILITY ONLINE
Small Business Trends

In the remote parts of Alaska with limited cell service, you may get away with not having a local online marketing strategy for a few years. For the rest of us, however, local visibility online is a must-have marketing goal. Read More >>

THE STATE OF US SMALL BUSINESS ENTERING 2016
Forbes

U.S. small businesses entered 2016 with stronger sales growth, improved profitability and positive hiring trends, according to recent data on this backbone of the U.S. economy. Businesses with less than $5 million in annual revenue experienced, on average, 7.8 percent annual sales growth during 2015, an increase of nearly a full percentage point from the previous year. Read More >>
APP PLUS™: UP TO $250,000 OF FINANCING NOW AVAILABLE
North Mill's "application only" program is a simple and fast way to obtain financing for your customers with minimal documentation. We require, for approval, only a signed credit application and an invoice with equipment specifications.

We took that solution a giant leap further and created an enhancement to our application only product: "App-Plus™." Now you can offer your customers up to a quarter of a million dollars in financing. This covers nearly all types of equipment we typically handle: day cabs, trailers, vocational trucks, construction, manufacturing and other equipment (the program does not cover over-the-road sleeper trucks).

The "plus" in the new App-Plus™ program describes the minimal additional information an applicant needs to provide North Mill in order to review, approve, structure and price a transaction ranging from $150,000 to $250,000. This may also apply to a borrower who wishes to increase his or her outstanding debt with North Mill to $250,000.

The new solution is a big win for our referral agents. Now, working with North Mill, referral agents can position themselves as a one-stop-shop for equipment financing ranging from $10,000 to $250,000.

Contact your North Mill account manager or email dcosenza@northmillef.com.

NEW BUSINESS VOLUME DROPS 12 PERCENT
According to ELFA's Monthly Leasing and Finance Index, overall new business volume for November 2015 dropped 12 percent from November 2014.

"Volume in the equipment finance sector, with some exceptions, continued to slow, reflecting a pull-back in consumer spending and business investment during the second half of the year," ELFA President and CEO William G. Sutton said. Read More >>

North Mill's management team is comprised of industry veterans who have an unparalleled expertise in financing, each bringing years of related experience to the table. Together, they've taken the company to great heights, positioning North Mill as a premier lender with thousands of satisfied customers.

Over the next few months, we'll put a face to a name and introduce you to North Mill's executive management team. In this issue we introduce our Senior Vice President of Credit, Bob Dion.
BOB DION
Sr. Vice President of Credit
Bob Dion joined North Mill Equipment Finance in 2007. As the Sr. Vice President of Credit, Bob manages the credit, documentation and funding departments of the organization. He brings over 25 years of experience to the table, having managed credit, collections, documentation, and sales in the small and middle-market sectors of the finance industry. In addition to his role as the head of credit, Bob is a key member of the firm’s Credit Committee, the team of executives that establishes credit policy for the company.

Prior to joining North Mill, Bob held various credit and sales-focused positions at Center Capital Corp; GE Capital; Phoenixcorp; and MetLife Capital. Bob and his wife Pam reside in Bethel, Connecticut.

For more information on articles in The Compass, or if you're interested in learning how to become a North Mill Referral Agent, please email Don Cosenza at dcosenza@northmillef.com or call 203-354-6018.


This newsletter includes links to other websites and the content within. The articles that link outside this newsletter have not been generated by, nor are they endorsed by, North Mill Equipment Finance. The aggregated content is simply intended to provide direct access to information that a Referral Agent may find useful.

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