Princeton, New Jersey — North Mill Capital LLC (d/b/a SLR Business Credit) (the “Company” or “SLR-BC”), today announced that it acquired Fast Pay Partners, LLC. Based in Los Angeles, CA, Fast Pay Partners enables clients to accelerate receivables and access liquidity through its asset-based lending and factoring platform which primarily services media firms in the United States.
Pro forma for this transaction, the Company will manage a portfolio of $550 million of credit facilities. SLR-BC gains a dedicated team with unique expertise spanning the media lending cycle, from origination to underwriting and servicing.
“Building on the success of our 2019 acquisition of Summit Financial Resources, we’re excited to partner with the experienced FastPay team to expand our lending capabilities with media companies,” said Jeff Goldrich, CEO of SLR-BC. “Fast Pay Partners has a proven track record of originating and managing factoring assets.”
“This acquisition enhances SLR-BC’s unique specialty finance platform,” said Mitch Soiefer, Partner and Head of Lender Finance at SLR Capital Partners. “Fast Pay Partners expands SLR-BC’s geographical reach and increases the scale and capabilities of its factoring platform.”
Hovde Group, LLC served as exclusive financial advisor to Fast Pay Partners in connection with the transaction.
About SLR Business Credit
North Mill Capital LLC (d/b/a SLR Business Credit) is a leading asset-based lending commercial finance company that specializes in making senior secured asset-based loans and factoring to small and medium-sized companies with borrowing needs of $100,000 up to $100 million. For more information, please visit SLRBusinessCredit.com.