North Mill Equipment Finance reported a new quarterly record in funded volume for the third quarter of 2024.

“Our continued progress in diversifying our asset categories in partnership with our referral partners coupled with our strong capital base has allowed us to thrive during these difficult economic times for the transportation sector,” said David C. Lee, Chairman and CEO, North Mill.

According to Lee, “NMEF continues to rebalance its book of business away from freight transportation related collateral, both local and long-haul, which was less than 13% of our third quarter volume. Medical, franchise, and construction collectively now represent more than half of our funding volume.”

“With the closing of our $404 million eighth ABS securitization in August and the continued support of our bank warehouse lending partners, NMEF is poised to continue funding originations at ever increasing volume levels,” said Mark Bonanno, President and COO, NMEF.