North Mill Equipment Finance Reviews - Financial Lender Pros & Cons

shira-mizrachi writer
By Shira Mizrachi
Updated November 13, 2020
Editor's Rating
Challenged Credit Trucking Lender
Customer Rating 35 Reviews
  • Versatile lender serving a variety of industries 
  • Flexible qualification requirements
  • Works with a variety of credit profiles 
  • Higher interest rates than other lenders
  • In many cases, required down payment of 5-20%
  • Smaller loan amounts
Types of loans
Loan amounts
    $15,000 to $300,000
Terms of payment
30 to 60 months


Services Offered (Equipment Financing): 

North Mill offers a wide range of equipment financing products including equipment financing agreements (EFA), leases, loans, and refinancing/cash-out. The final option allows customers to pull equity from unencumbered assets and refinance existing loans often with better terms. This range of options and flexible qualification mean that many businesses seeking financing will find an option that suits their needs. 

Industries Served: 

Businesses frequently need a little extra capital to purchase needed equipment in order to support day to operations or propel an expansion. However, traditional bank loans can be difficult to access for individuals with poor credit and often the equipment must be parched quickly. For industries with small equipment needs, North Mill carries a range of solutions for businesses in the following industries:

Unaccepted Asset Categories: 

While North Mill EF works with a broad range of industries and credit profiles, there are some sectors that will not be considered for financing. Purchasing assets in the following industries is not accepted by North Mill:

These industries are considered too risky for the lender and business owners looking to purchase equipment in these categories will have to seek financing solutions elsewhere. 

Borrower Qualifications 

One of the main benefits of North Mill EF is the lender’s flexible qualification criteria. A, B and C credit qualities are considered so even borrowers with less than stellar credit profiles will likely still be able to secure financing. However, there is a 550 minimum FICO.

In addition to credit requirements, businesses applying for financing need to have been in business for at least 3 years. 

Unlike some lenders, North Mill doesn’t require homeownership. Other unencumbered collateral are considered toward down payment. Following application, approval is contingent on customer and guarantor background review.

All financing approvals are asset specific. 

Terms & Fees


North Mill specializes in small ticket equipment financing with funding amounts ranging from $15,000 to $300,000.

Term length: 

Depending on the total loan amount and a range of factors, borrowers will have from 30 to 60 months to repay the financing. 

Interest rate: 

Depending on the financing agreement, borrowers should expect to pay between 7.5 - 30% interest on equipment financing. 

Down payment: 

While some equipment financing lenders require zero down payment, North Mill EF customers will be required to offer between 10 - 50% of the value of the item. 

Buyout agreement: N/A

Additional costs: 

Aside from the actual loan amount and any interest, North Mill EF also requires a $600 document fee. Additional fees may apply if a site inspection is required, or for other specific reasons. 

Effective APR: 

When the effects of compounding over time are factored into the cost of the financing, North Mill customers should expect to pay between 7.5 - 30% APR. 

Application Process: 

North Mill EF delivers a straightforward online application process for equipment financing with flexible requirements. There are just a few short steps in the application process. Applicants must supply the following documents in order for the application to be processed:

North Mill offers special “Application Only” streamlined financing qualification for loans and leases up to $150,000. 

North Mill Equipment Finance North Mill Equipment Finance

Sales & Advertising Transparency

North Mill offers transparent and clear information about their offerings, conditions, and pricing online. In addition, for customers with questions about financing, North Mill has dedicated account managers to respond as needed. 

This lender is also transparent about how the company is structured and who works there. All sales agents and other personnel can be reached by email. 

Customer Service & Technical Support

North Mill EF is easy to reach and lists a number of means to access customer service or support. 


601 Merritt 7, Suite 5

Norwalk, CT 06851

Phone numbers:

Main number: 203-354-6000

Customer Service: 800-998-7852

Account Management: 800-223-6630

Marketing: 203-354-6018

In addition to phone support, customers can access North Mill’s customer care representatives via an online form. Responses are quick and helpful, but for extra assistance customer service is also available by phone. 

User Reviews

This lender is not accredited by the Better Business Bureau. There are no substantiated negative reviews on the BBB website. There are a number of positive testimonials on the lender’s website and from employees on employment platforms, however the company is not rated on TrustPilot, Yelp, or other online rating platforms. 

Final Verdict

North Mill Equipment Financing is a good financing option for small asset loans or leases up to $300,000. While certain industries will not be able to qualify with this lender, flexible credit requirements and case-by-case approval means that many applicants will find a financing offer for their equipment needs. 


34 User Reviews

Jaden Wolf

Nov 19, 2020 10:40 PM

I would urge anyone who is reading this review to stay away from these liars and thieves at any cost! They will first lure you in with their sugary talk and make you feel how they care about the health and success of your business and then when the time comes, they'd try every way to rip you off of your honest money with ridiculous interest rates and shitty fee structure! Thank God I did not get caught in their trap and saw it through when they were not clearly stating their range and just trying to "assure" me it will be "reasonable"! Total liars!! Anyone in their right mind would just walk away from this bank! Who the hell asks for 50% of the total value of the equipment you are leasing??? This is a joke! If I could pay a 50%, I would not have applied for the stupid equipment leasing program, would I? And anyway, I would have gone ahead and bought the equipment myself at a later time after saving money. They made me laugh and the 1 star is for that!


Vanessa Dickinson

Nov 22, 2020 10:42 PM

I cannot believe you had to face all this. I had a great experience with North Mill. Their machinery loan was just what I had been looking for. They were really courteous and nice people, especially Ellen Miller. She took care of my case herself and made sure I would get what I needed. They were upfront about all the fees and charges. I don't know why you did not get that. It must be your representative because with me, I recieved a term sheet that had all the payments and charges listed and information that was required to proceed with the documentation for the equipment financing program. I was rather amazed with how cleared out every step of the application was. I just had to fax everything to the lender and that was it. The only thing I did not like about the deal was the documentation fee of $600. I wish that was slightly lower. Other than that, I got a great deal at 11% interest rate and I am very much satisfied! As for the 50% down payment on the equipment you were looking for, I am amazed too because what I got was 16% which is quite reasonable. I'm sure there must be a reason they charged you this much. They cannot just ask for a 50% down payment out of spite or anything. It must be your credit score or a previous bad credit deal or maybe a current deal you are undergoing or anything.


Jaden Wolf

Nov 26, 2020 10:45 PM

Surprised with your comment really. My experience was indeed terrible. You are right, it could just be the representative I was working with but how do we explain all those ridiculous fees and charges? These are not created by the representatives. They are just mere pawns following the company's policies. And about my credit score, it's all right, not stellar but not so bad either! And I am currently undergoing a business loan deal with Marlin but I'm afraid it has nothing to do with that. People juggle more than one loans all the time, that does not mean you could just charge them with outrageous payments terms! Anyway, I'm not gonna work with these people again! I could get a better deal from my credit union!


Vanessa Dickinson

Nov 29, 2020 10:46 PM

If they have outlined the fees and charges for you, then I don't think there is any reason to be so mad. At least they are honest about it, in my opinion. And you're absolutely right, people do play with more than one loans at once and it seems to be working for them but not for all people especially when you don't have stellar credit scores. And if you believe your local credit union could get you a better deal, I really hope you get that! Good luck!


Jaden Wolf

Nov 30, 2020 10:48 PM

thank you!


Jordi Bauch

Nov 24, 2020 10:53 PM

These people are a bunch of professional liars. They have no ethics and no shame whatsoever. They mislead me into believing that the equipment financing agreement I was signing to purchase a vehicle for my business had a certain cost, which according to the deal we had conversed about, would have cost me some 14% in terms of interest rate and a little down payment as well. I was okay with that. But later when I signed the papers, it was revealed to me that I owed them some 35k in terms of the cost of the financing, which included this fee and that fee and whatnot. I was shocked. I did not have this in mind and neither did anybody from the company talked to me about it. Beware of this company. They have no honor! They do not care about the TILA (Truth In Lending Act) and neither do they care about being generally decent! I am backing out. Very very disappointed!


Marianna Shields

Dec 5, 2020 10:58 PM

I don’t know why some people have such bad experiences with Financial Pacific Leasing because my experience was just great. They are the most helpful and understanding lender I ever came across. I was looking for an equipment leasing deal to finance the purchase of a couple of kitchen equipment and utensils for my restaurant. I did some research about Fin Pac after a friend recommended these people me to them. I applied for the loan and waited for their response. To my surprise, I got a call back within a couple of hours of application and the representative was a super nice person. He got the funding approved for my business in just 3 days and I got the capital in a day. I have never been happier with a lender or bank before. The interest rate was 10% and the down payment I had to pay was just 4%. It was, hands down, the best deal I could have gotten from anywhere. Thank you so much Fin Pac!


Rahsaan Padberg

Dec 8, 2020 10:55 PM

I own a transportation business in Wakefield and I am very impressed with the work that North Mill is doing. Everything about their equipment leasing program is commendable! They work diligently and quickly. They do not waste your time! The credit decisions were made quickly, without delays and the approval comes your way even quicker! And after that, you get the funding right away. The entire application and funding process is so smooth and streamlined, you cannot but be grateful! North Mill has delivered what it promised. The only reason I did not give them a 5 star rating is because I believe the down payment was a little bit too much at 27%. But there are problems everywhere. Every lender you work with can have this con or that problem. In my opinion, if they are delivering everything they promised and everything is working great, you can put up with troubles like this!


Matilde Erdman

Dec 21, 2020 10:58 PM

Absolutely disappointed to work with these people! They are simply hungry for your money and do not care an ounce about your company’s success or have any regard for your credit. Eventhough they say they start their interest rates from some 7% but what they offer you is just ridiculous!! I wonder why the authorities are still letting these thieves run their robbing business. This lending industry is full of scumbags and frauds!! They try to rip small businesses under the guise of helping them or supporting them which is utter bullcrap! Please, do your research before you even start talking about a loan deal with a lender because trust me, lenders like financial pacific know their sugary talk and they know all tactics to lure clients in and make them believe in their sincerity and after trapping customers, it’s the worst experience ever and before you could do anything, you realize you are under a huge amount of debt and can’t easily back off! I will never work with these people and would tell everyone in my circle to stay away from financial pacific leasing!!


Jacklyn Gorczany

Dec 29, 2020 10:56 PM

I just found out how these people just managed to make a fool out me. My trucking company in Las Vegas applied for their business equipment financing back in 2018 and after going through a shitty two years of repayments with these liars, I came to know that I still owe them so much. I've paid some $50K, that is just the repayment so far. I am not including their ridiculous documentation fee or other additional costs! Only the repayments. Only some 2600k have gone down to principal so far! This is just ridiculous. They are robbing us in the name of supporting us! I will never ever work with these people again!


Marquise Pfannerstill

Jan 5, 2021 10:58 PM

fin pac is a good company. Their equipment financing product is good. I will work with them again


Antonia Conn

Jan 27, 2021 10:57 PM

I had a good experience with North Mill Equipment Finance. But due to the COVID-19, the application process too long and the documentation took even longer. People were working from home and it made it all the more difficult as policies were not defined in the beginning when every company was forced to work from home. But Jake helped me a lot despite the problems. He understood the urgency and got me a great equipment financing deal. Thank you Jake and NMEF!


Kimberly Kovacek

Jan 27, 2021 10:58 PM

Got a machinery loan for my auto repair business in San Francisco. It was just the best experience. Even my vendor praised these guys. He got paid on time and had the equipment delivered to me in just 5 business days. These guys are excellent in collaborating with the merchants for an equipment financing loan and they keep everyone on board. The only downside was the down payment which I was not looking forward to. I thought I could get the equipment on zero down but they charged me 11%, which seemed like a lot especially when you are looking to get a zero down payment deal. But all in all, the experience has been good. I would definitely keep working with these people in the futures as well!


Eldora Wisoky

Jan 31, 2021 11:02 PM

You are right about everything. I had a similar experience while financing a new stove and fridge for my small Chinese Cuisine restaurant in Chicago. I was also looking to get an equipment leasing agreement with the lowest down payment possible if not zero. But these people charged me some 16% and here it became a less than happy deal. At least you got it at 11%. I was excited about the entire deal and was looking forward to utilizing the equipment but the down payment came as a not so welcome thought. But I cannot complain too much because I got the money immediately and was able to pay the vendor on time. So, yeah, I would most probably use their services again and I’m hoping they would be more lenient the next time!


Winnifred ZemlakII

Jan 30, 2021 10:58 PM

It was easy to get an equipment financing with this lender as I already had nearly $100,000 in gross income tax filing but if you don't have that, you might find it difficult to get a good deal with these people. And even though I enjoyed the privilege, I still think it is a hard policy, especially for small and medium businesses. Other than that, I would definitely recommend North Mill to my friends.


Allan Gibson

Feb 4, 2021 10:59 PM

Their customer service is just great! They make credit decisions in a timely manner and offer payback terms that are quite reasonable! The overall funding and application process is simply drawn out and it works smoothly. I had a great experience with North Mill Equipment Finance!


Misael Abshire

Feb 9, 2021 11:00 PM

Our account manger Sonya Hill was one intelligent and cooperative lady. It was an absolute honour to work with a lady of that caliber! She took care of our equipment leasing deal herself and offered my trucking business the most reasonable and affordable payback terms possible. Got a work truck for my Newington-based trucking company at 18% in down payment! A great deal indeed! Thanks to Sonja and North Mill Equipment Finance. Looking forward to lease more equipment for my company through North Mill in the future!


Deja Robel

Feb 13, 2021 11:04 PM

I had an absolutely great experience with these guys. They are supportive and their turnover time is just impeccable, almost lightening fast!! Rates and overall cost of the equipment financing deal felt pretty fair, especially if you take a look at the market and get to know how the lenders are just robbing people, especially small businesses with no honor! So, I got the payment on time and everything just went awesome!!! I must also applaud how supportive and friendly the staff at Financial Pacific Leasing was. My distribution business got through some tough months during our repayment phase but not once did Fin Pac made me feel bad about it or try to push me. They were very accommodating and understanding. They took me onboard again and planned a repayment schedule much more suited to my current revenue system and it worked so well with me. My business owes a lot to these guys who were with me, literally through thick and thin and I cannot be grateful enough! Things got better with the business and I must admit, it’s because Fin Pac had been so patient with me. Thank you so much guys!!


som Rodriguez

Mar 5, 2021 11:01 PM

Great company with excellent interest rates. The down payment feels like a burden though. I wish they could cut down on that somehow..


Mr. Dave RoweI

Mar 9, 2021 11:03 PM

The operations people at my manufacturing company in Tampa have a high praise for North Mill and especially Ellen! They are always every responsive and cooperative. We first applied for an equipment leasing deal at North Mill in 2017 and the only trouble we were having was the down payment. It was some 27% and we were aiming at something under 20%. It was Ellen who helped us with this and did her best to bring it down but she was not able to bring it down to our desired number and it was okay. At least she had the lender consider. We paid 25% down and after that, the entire deal went on smoothly. We have applied for another machinery loan recently and this time, we are hoping for a lesser down payment this time and Ellen is all hopeful too! Let's see!


Mitchell Pacocha

Mar 14, 2021 11:04 PM

Great company! Found just the right deal with my merchant and Fin Pac for a utility van for my business. Down payment seemed fair and so did the interest rate. The turnover time could have been much earlier as opposed to the 6 days I got the capital in but over all the equipment financing deal was just great. Thx.


Chance Hahn

Mar 18, 2021 11:04 PM

Having a designated broker working with you on an equipment financing deal makes it very easy to apply. North Mill has proved to be a great resource for my retail company in Santa Ana. Their excellent payback terms help you a great deal while dealing with challenging transactions. This type of behaviour is indeed encouraging for small to medium enterprises. If they could just cut down the down payment to a reasonable amount, it could be a perfect deal. But anyway, we are still managing and it looks like it could work in the long run.


Libby Tremblay

Mar 23, 2021 11:04 PM

Absolutely great!! Finally someone who can deal with the B to C level of customers. Enough with the monopoly of the A-level lenders! North Mill's equipment leasing program is just what a B to C customer needs! Thank you so much!!


Rose D'Amore

May 7, 2021 11:04 PM

Great customer service. I am a merchant who distributes and provides kitchen equipment and utensils and cutlery and what not to restaurants across multiple states and I had the joy of working with Fin Pac a couple of times for equipment financing and equipment leasing and they have been a great way for me to get customers and lease or sell my products. I have hardly come across any problems with this lender except when the customers are not too cooperative which of course is not the lender’s fault. They did get technical issuers quite often but other than that, it has been a great experience with these guys!


Kaylee JacobsII

May 27, 2021 11:04 PM

My small retail business that I own at home owes a great deal to Financial Pacific Leasing. I was looking to get equipment financing to start my business and get basic tools and items needed for retail and as I had just started my business, I am happy that they helped me established. Their site has technical issues which can be frustrating and also their customer service is pretty off. But the equipment financing product and the fact that they helped me despite the newness and scale of my business, I am grateful.


Annabell Rowe

Jun 9, 2021 11:04 PM

Great people at Fin Pac. 100% recommended!


Alvah Kunde

Jun 14, 2021 11:05 PM

Paulina was a great resource and a highly cooperative customer representative! She took care of the application and funding but after that it was not so good as I had to deal with several other reps and they were not as responsive or nice as Paulina had been. Definitely need to work on your customer service!


Archibald KuphalV

Jun 21, 2021 11:06 PM

Worst customer service ever! First they are all around and fully available when you are a potential client and once the fish is caught, they start to behave differently. I had to wait long for simple queries! They would just put me on waiting and then after a couple of minutes, the call would hang up. Pathetic service really! No matter what a great deal they have offered you, if they cannot treat you with respect and not answer your queries on time, it just feels frustrating!


Brandon Farrell

Jun 27, 2021 11:04 PM

Financial Pacific Leasing is a great lender. Their equipment financing is just what my company needed when I was looking to lease a company vehicle. The terms were satisfactory – got an 11% interest rate and 15% down payment. If the cost of the loan is just limited to these costs, it’s understandable but they have a number of fees that just seem unfair and unnecessary too. There is a vehicle insurance fee, title transfer fee and there are countless other fees that they charge for a number of reasons. The fees range from mere $5 to 100 of dollars. I did not like all that. I gave them two stars for their honesty that they discussed these fees beforehand instead of just handing me a bill at the end.


Taya Larkin

Jun 29, 2021 11:06 PM

North Mill is a good lending company. I had a good experience working with them. Only the documentation fee seems like too much as there are not many documents to take care of anyway. And also, I had faxed them the documents on time, everything they wanted. I don't know what they are charging you $600k for...


Kris Durgan DVM

Jul 6, 2021 11:04 PM

I liked working with Financial Pacific. They deliver fast. I got the equipment financing on zero down payment but the interest rate was a little too much. I appreciate they delivered in time though. Cannot complain much! Good service!


Rhett Beahan

Jul 14, 2021 11:06 PM

Had a decent experience with North Mill. Currently finalizing an equipment financing deal with them. So far, everything is going great!


Joshuah O'Connell DDS

Sep 22, 2021 11:04 PM

I have worked with a couple of lenders for business loans to equipment financing deals and I would say Financial Pacific is a good lender, not the best but definitely not the worst. It’s your regular small business lender. They have reasonable rates but if you have a great credit, you can get even better rates. All in all, a good option if you are looking for instant equipment financing.


Edd Gulgowski

Nov 14, 2021 10:37 PM

A friend of mine recommended North Mill Equipment Finance to me and I must say I have never been happier with a service as I am happy with this lender. Their equipment financing program was just what I needed to finance some medical tools and equipment for my clinic in Orange County that I have expanded just recently. The application process took just 3 days and then it was approved. They credited the loan the 5th day and I paid my merchants quickly. Their turnaround time is just fantastic. I'm very happy with that as it was crucial for me to get the money and equipment on time. In my line of work, it's all about timeliness and I was able to achieve that with North Mill's help! Oh yes, and what an outstanding customer service they have! Thank you so much! Five stars all the way!!