North Mill Equipment Finance | The Compass
July 2016    |    Issue 15
Make the Zero Your Hero: Assessing ZIRP and the Current State of the Economy
The zero interest rate policy (ZIRP) is back for another round according to the most recent report following the Fed's June 15 meeting. Despite rising speculation occurring earlier this year, the Fed has decided to take a more cautionary approach as we head into the second half of 2016.

While an uptick would encourage equipment finance customers to act sooner rather than later, the continuance is actually great news considering the low interest is now paired with improved economic conditions.
Read More >>



HOW COMMERCIAL CREDIT SCORING WORKS
North Mill Equipment Finance

It takes time and experience in the commercial lending industry to get to a place where you can confidently lend to a particular segment of the population whose overall credit data is "good to excellent". Read More >>

6 GUIDELINES TO IMPROVE LEAN FINANCIAL MANAGEMENT IN CONSTRUCTION
For Construction Pros

With as many decisions that a construction leader must make during the day, having greater empowerment to make financial decisions must be part of the construction leader's profile. Read More >>

WARREN BUFFETT THINKS EVERY ENTREPRENEUR NEEDS TO DO THIS
CNBC

If you're an aspiring entrepreneur or small business owner, Warren Buffett wants you to do something tomorrow morning. Read More >>

APRIL MANUFACTURING TECHNOLOGY ORDERS DOWN 27.5 PERCENT Y/Y
Equipment Finance Advisor

Manufacturing technology orders for April 2016 were down 27.5 percent from the same month a year ago. Year to date, orders are down 16.6 percent compared to the same point in 2015. Read More >>

LATEST THREAT TO ONLINE LENDERS: 'STACKING' OF MULTIPLE LOANS
Reuters

Many online lenders have failed to detect the "stacking" of multiple loans by borrowers who slip through their automated underwriting systems, lending company executives and investors told Reuters. Read More >>

MILWAUKEE'S MINING EQUIPMENT MANUFACTURERS TRY TO DIG OUT OF HOLE
BizTimes.com

There have been a lot of depressing headlines for the Milwaukee-area mining equipment manufacturing operations of Joy Global Inc. and Caterpillar Inc. over the past year. Read More >>

GLOBAL CONSTRUCTION GROWS BUT US CONSTRUCTION EQUIPMENT EXPORTS DROP
For Construction Pros

Exports of U.S.-made construction equipment declined 25 percent overall for first quarter 2016 compared to first quarter 2015 with a total $2.7 billion shipped to global markets. Read More >>

STRATEGIES: HOW NEW OVERTIME RULES AFFECT SMALL BUSINESS
USA Today

Beginning in December, about 4.2 million more Americans will qualify for overtime pay under new rules from the U.S. Department of Labor. If you own a small business and have full-time employees, there’s a good chance these rules will apply to you. Read More >>
NORTH MILL EQUIPMENT FINANCE COMPLETES ITS 2ND SECURITIZATION FOR $111.15 MILLION
North Mill Equipment Finance LLC ("North Mill"), a leading independent commercial equipment lessor located in South Norwalk, CT, has announced the closing of its second securitization transaction, NMEF Funding 2016-A, which was completed on June 13, 2016. NMEF Funding 2016-A issued two classes of equipment finance-backed notes totaling $111.15 million. The transaction was rated by Kroll Bond Rating Agency and the notes received ratings of A (sf) and BBB (sf).

The portfolio of leases and loans is secured mostly by transportation equipment, including heavy and medium duty trucks, cargo vans and other vehicles, and construction, manufacturing and other equipment. BB&T Capital Markets was the book runner, structuring and placement agent of the notes. North Mill will continue to be the servicer of the underlying assets.

Gary Silverhardt, President and CEO of North Mill, stated, "This second securitization is a further demonstration of the company's strength and continued growth. It enhances our access to capital and enables us to expand our equipment finance activities."

Andy Yuder of BB&T Capital Markets said, "This transaction provides additional capital the company needs to offer equipment financing to its customers. We are proud to have partnered with the North Mill team to add to their continued success, and we look forward to supporting the company’s plans for continued growth."

NEW BUSINESS VOLUME DOWN 10 PERCENT
The MLFI-25 showed their overall new business volume for April was $7.3 billion, down 12 percent from new business volume in April 2015.

ELFA President and CEO Ralph Petta said, "With April data showing declining originations, mixed portfolio quality, and a lower level of confidence by equipment finance executives, it appears that political uncertainty joins economic uncertainty as one of the reasons businesses are holding off investing in capital equipment at this time." 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, Chief Technology Officer, CV Channagiri.
CV CHANNAGIRI
Senior Vice President,
Chief Technology Officer
CV Channagiri is North Mill’s Chief Technology Officer. Responsible for all aspects of driving the company's technology and network infrastructure needs, he has over 25 years of experience in the technology industry developing and implementing successful IT strategies.

Before joining the company, CV was Chief Technology Officer for Thomson Reuters Consumer Media and Global Head of Compliance/Entitlements Technology at Morgan Stanley. Additionally, he’s held other senior technology positions at Deutsche Asset Management, KPMG, IBM and Credit Suisse.

Mr. Channagiri holds an MS in Computer Science from the University of Alabama. He resides in New York with his wife and son.

For more information on articles in The Compass, or if you're interested in learning how to become a North Mill Referral Source, 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 LLC. The aggregated content is simply intended to provide direct access to information that a Referral Source may find useful.

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