North Mill Equipment Finance | The Compass
October 30, 2015    |    Issue 7

Assessing the Next 12 Months in Transportation: Demand for Financing to Remain Strong
After a harsh winter and sluggish summer, as industry reports suggest, the demand for transportation financing is to remain strong. According to information from GE Capital's Spring 2015 Truck Transportation Industry Research Update, half of business leaders in trucking expect the industry to expand in the coming year. Read More >>


How to Prospect in 2015

PERSONALITY IS KEY: PUTTING YOUR BEST SELF TO WORK FOR YOUR BUSINESS
North Mill Equipment Finance

If you ever meet a referral agent who tells you that word-of-mouth isn't playing a huge role in the job that they do on a daily basis, rest assured: they're doing something wrong. Word-of-mouth isn't just recommended — referral agents are dependent on this concept to help their business grow and evolve naturally over time. Read More >>




WHEN PICKING A BANKING PARTNER, PULL IN THE TEAM
Equipment Finance Advisor

When it comes to a banking partner, businesses should not expect one individual to represent an entire bank. Rather, they should engage with an entire team because a true banking partnership includes a variety of experts, working together to bring specialized services to the client. Read More >>




WILL ONLINE LENDERS DISRUPT SMALL BUSINESS BANKING?
Banking Exchange

The credit crunch hit small businesses hard after the recent financial crisis, as banks sharply pulled back on lending. That drop in lending activity opened the door for alternative lenders to enter consumer lending, and the same thing is happening in small business lending. But the opportunity for new entrants in the small business space is greater. Read More >>




MEDIUM AND HEAVY TRUCK SALES UP 10 PERCENT IN SEPTEMBER
Trailer Body Builders

Medium and heavy truck sales were up 10 percent in September over the same period a year ago and down 4 percent from the previous month, according to figures compiled by WardsAuto.com. Dealers sold 63,143 trucks with GVW ratings above 10,000 pounds during the month. Read More >>




HEAVY CONSTRUCTION EQUIPMENT MARKET TO GROW 6.8 PERCENT IN NEXT 5 YEARS
Monitor Daily

The global heavy construction equipment market is expected to exhibit a growth potential of 6.8 percent over the next five years, according to research from Report Buyer. Growth in the market is expected to be fueled by increases in infrastructural spending especially in developing economies, and increasing demand for residential buildings owing to growing populations. Read More >>




5 TAX BREAKS FOR THE SELF-EMPLOYED
The Motley Fool via USA Today

If you're self-employed, your tax burden can be rather steep. Not only do you have to pay income tax on your business profits, but you also have to pay the self-employment tax to cover both sides (employer and employee) of the Social Security and Medicare taxes. Fortunately, there are many tax breaks designed for the self-employed, and here are five of the best ones, as described by our contributors. Read More >>




TRUCKING OPERATIONAL COSTS RISE DESPITE FALLING FUEL PRICES
Truckinginfo

Rising equipment costs and driver wages led to an increase in operational costs in 2014, according to a comprehensive report from the American Transportation Research Institute. Increases in truck and trailer lease and purchase payments were at the root of the cost per mile increase, especially in the specialized sector. Read More >>


APP PLUS™: $250,000 OF FINANCING AVAILABLE
As a referral agent, you may already be enjoying North Mill's "Application Only" program. It's a simple and fast way to obtain financing for your customers with minimal documentation. We only require a signed credit application and an invoice with equipment specifications.

At the suggestion of our network of referral agents, we took the program a giant leap further and created "App Plus™." You now can offer your customers up to a quarter of a million dollars in financing. This covers all of the 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" of the new App-Plus program describes the minimal additional information an applicant provides in order for North Mill to review, approve, structure and price a transaction with a proposed financing amount ranging from $150,000 to $250,000. This also applies to borrowers who wish to increase their outstanding debt with North Mill above $150,000.

By working with North Mill, referral agents can position themselves as a one-stop-shop equipment financing solution as financing from $10,000 to $250,000 can now be procured. Contact your North Mill account manager for details or email dcosenza@northmillef.com.

EQUIPMENT INDUSTRY EASES IN OCTOBER
Following a sharp rise in August, confidence in the equipment finance market is 58.7, easing from the September index of 61.1.

The MCI-EFI report provides a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the sector. 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 President and CEO, Gary Silverhardt.
GARY N. SILVERHARDT
President and CEO
Gary Silverhardt is the President and CEO of North Mill Equipment Finance. A recognized leader in the commercial finance industry, Gary has successfully led the company for close to 15 years since joining the firm in 2001.

Mr. Silverhardt has more than 25 years of experience managing and raising capital for specialty finance companies. Additionally, he's originated joint ventures with hedge funds and private equity funds. He is a frequent speaker at specialty finance and capital markets conferences on the subjects of leasing, portfolio management, portfolio acquisition and securitization, and often serves as a consultant to other industry leaders.

Previously, Mr. Silverhardt held senior executive positions with ICON Capital Corp. and Federated Capital Corp. He also owned and operated a consulting company that specialized in portfolio management and corporate/financial planning for independent and bank-owned leasing companies. He is a Certified Public Accountant and a former member of Coopers & Lybrand's audit group.

Mr. Silverhardt continues to grow North Mill year after year, evolving the company as the market demands. Under his leadership, the firm has introduced new products, broker-centric technology, and a proliferation of special programs and opportunities all aimed at helping referral agents build their businesses.

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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