Product Solutions

Financing products designed for your Clients

Each customer has a unique financial situtation. At North Mill, we keep that in mind when we structure a deal. That’s why our portfolio of solutions is flexible, comprehensive, and designed to meet the needs of the individual. Ask your North Mill account manager for details.

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Loan

An Equipment Finance Loan is used to purchase business equipment that is secured by the asset itself. Your customer repays the amount borrowed with interest over a specific period of time. At North Mill, the term of a loan can be anywhere from 36 to 60 months.

TRAC LEASE

A Terminal Rental Adjustment Clause (TRAC) lease is designed to finance your customer’s qualified truck or trailer. It offers the lessee a stated residual value at the end of the term that your North Mill account manager can provide. At lease end, your customer can pay off the residual value and take ownership of the asset, obtain terms from North Mill to re-lease the unit (if eligible), or simply return it to North Mill.

FMV LEASE

Fair Market Value (FMV) lease allows your customers to obtain the equipment they need to run their businesses for a designated number of months. At the end of the lease term, your customer may purchase the equipment for its fair market value, or, depending on his credit status, continue to lease the asset or return it and upgrade to a new unit.

$1 BUYOUT LEASE

$1 Buyout Lease allows your customer to purchase the equipment for one dollar ($1) at the conclusion of the lease agreement. The monthly payment is typically higher than with some other types of leases like an FMV since the buyout is only a dollar. Customers interested in keeping the equipment at the end of the term may prefer the dollar buyout option.

$101 BUYOUT LEASE

$101 Buyout Lease is available in California and Arizona and is similar to a $1 Buyout Lease. The monthly payment is typically higher than with some other types of leases like an FMV since the customer has the option to purchase the asset at the end of the term for just $101. Customers interested in keeping the equipment at lease-end may prefer this option.