North Mill Equipment Finance | The Compass
February 29, 2016    |    Issue 11
Assessing the Next 12 Months in Manufacturing Equipment: A Consistent Forecast for 2016
Despite the recent global manufacturing contraction, the manufacturing equipment industry will remain a force to be reckoned with. ELFA reports a steady and reliable outlook for financing in this sector, with numbers reporting both as stable and confident as the previous year, and in some cases, even better. A sector that makes up 4.2 percent of the yearly new business, it will continue at its current rate with very little signs of stopping. Read More >>



CHANGE IN INSURANCE REQUIREMENT FACILITATES FUNDING
North Mill Equipment Finance

At North Mill, our goal is to get your customers the financing they need as quickly and as easily as possible. That's why we've just revised our insurance provisions to make our process even simpler and more straightforward. Read More >>

VOLVO GROUP TO REORGANIZE TRUCK BUSINESSES
Trailer Body Builders

The Volvo Group plans to reorganize its global truck operations into four separate units – Volvo Trucks, UD Trucks, Renault Trucks and Mack Trucks – starting on March 1 this year. Read More >>

MIDDLE MARKET ECONOMY DEMONSTRATES STABLE GROWTH; CHALLENGES PERSIST
Equipment Finance Advisor

Middle market companies reported year-over-year growth of 6.1 percent in Q4 2015, down from 7.2 percent year-over-year growth in the third quarter. Middle market employment growth followed a similar pattern, declining to 3.6 percent year-over-year growth in Q4 2015 from 4.1 percent the quarter before. Read More >>

CIT VOICE OF THE MIDDLE MARKET
CIT

Despite the explosion of big data throughout Corporate America, middle market executives are judging the state of the economy based on personal experience and observation more than economic indicators. Approximately 3 in 5 executives say the best way to judge the U.S. economy is through observing the economic stability of their community, friends, and coworkers. Read More >>

COMMERCIAL VEHICLE SECTOR SHOULD GROW A LITTLE IN 2016
Fleet Owner

According to the recent IHS Medium and Heavy Commercial Vehicle Industry Forecast Report, the U.S commercial vehicle market is expected to grow slightly in 2016, to just over 500,000 newly registered units, up from projected registrations of 498,000 units last year. Read More >>

THE FUTURE OF LEASING
Monitor Daily

DLL Chairman and CEO Bill Stephenson offers a look into the future of the industry, placing a critical eye on equipment's environmental impact. Read More >>

THE PROBABILITY OF NEGATIVE US RATES IS ON THE RISE
Bloomberg

Global central banks have opened the door to negative U.S. interest rates, in Wall Street's view. After the Bank of Japan cut some rates below zero last month to spur growth and inflation, strategists are weighing the Federal Reserve's options in case of a crisis. Read More >>

AN ENTREPRENEUR'S GUIDE TO MANAGING ANXIETY
Forbes

Building and running a business is often a difficult, stressful, and uncertain process. In a day and age where we idolize successful entrepreneurs, we are encouraged to buy into the falsehood narrative of the "rugged individualist," a person who is simultaneously unflappable and confident. In reality, this narrative couldn’t be farther from the truth. Read More >>

WHAT KIND OF NEGOTIATOR ARE YOU?
Harvard Business Review

Whether they're lobbying for team resources, forging a complex M&A deal, or seeking a salary increase for themselves, master negotiators tailor their styles to their goals and situations. But that takes self-awareness. Before you can adjust your approach, you need insight into what comes most naturally to you. Read More >>
INTRODUCING THE
RE-FI/CASH-OUT PROGRAM
The Re-Fi/Cash-Out program is similar to a "sale leaseback" in that customers can pull equity from an asset and use it toward the down payment of a new deal or to refinance an existing one. The big difference: this product is available only as a loan.

The product fits within North Mill's existing application only and new App-Plus™ programs for amounts financed up to $250,000 and should be applied to equipment that has strong value and remaining useful life. Financing is available for day cabs, trailers, vocational trucks, construction, manufacturing and other equipment. This program does not cover over-the-road sleeper trucks.

Because North Mill will not have a licensed equipment dealer involved in Re-Fi/Cash-Out transactions, review, approval, and closing of a transaction will include additional procedures that must be followed by all parties.

The Re-Fi/Cash-Out program is a great opportunity for referral agents looking to offer additional financing opportunities to existing and potential customers who own their equipment outright but want to generate cash by re-financing it.

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

TECH PERFORMANCE SLOWLY ON THE RISE
The 13th annual Business Technology Performance Index (BTPI) finds that while the equipment finance industry has been a slow adopter of digital technologies, strong recognition exists for capturing digital capabilities.

"We encourage our members to read the report to gain insight into the technology trends that equipment finance companies are using to drive their firms into new opportunities and improve operations," ELFA President and CEO Ralph Petta 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 Sr. Vice President, Chief Marketing Officer, Don Cosenza.
DON COSENZA
Sr. Vice President, Chief Marketing Officer
Don Cosenza joined North Mill two years ago as Chief Marketing Officer. As marketing leader, Don is responsible for devising and implementing the firm's sales and marketing strategy. His responsibilities include managing and growing referral agent relationships, building brand awareness, researching new markets, and overseeing account management. He's had over 25 years of experience in senior marketing roles having worked in the finance, health insurance, and medical equipment industries.

Before joining North Mill, Don was Vice President of Marketing for UnitedHealthcare where he led all branding, product development, lead generation, and customer retention activities. Additionally, he served as an E-Business Leader for GE Capital where he created digital strategies to improve manual processes.

Mr. Cosenza holds an MA in Economics from Trinity College in Hartford, CT and a BA in Communications from the University of Connecticut. He resides in Cheshire, Connecticut with his wife and two children.

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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