Business
Overview

In 2017, SUNS acquired North Mill Capital LLC ("North Mill"), a leading asset-based lending commercial finance company that specializes in making senior secured asset-backed loans and factoring to small and medium-sized companies. North Mill was renamed "SLR Business Credit" in 2021.

The company was founded in 2010 by its senior management team who originally launched the strategy in 1995 and have worked together for more than 25 years across multiple organizations.

Target
Borrowers

Privately-owned, small to medium-sized businesses who have limited access to bank financing

Primarily US-based companies operating in the manufacturing, services and distribution industries

NMC is typically the agent and sole lender to its borrowers

TRANSACTION PROFILE

Loan tenor of 1-to-3 years; average life of ~2.5 years

Financing structures primarily include asset-based loans (revolving) and factoring agreements (revolving)

Loans are collateralized on a first lien basis in all cases, primarily by accounts receivable

TYPICAL INVESTMENT SIZE

$500K to $30M

For additional information: info@slrbusinesscredit.com