Navigating the complexities of lending through the COVID pandemic, AP Equipment Financing funded $62.5 million worth of equipment in Q2/20, representing 49% growth year over year. AP has financed $99.5 million year to date in 2020 compared with $75.8 million in 2019, illustrating a growth rate of 31%.

AP also promoted several employees in the second quarter. Raquel O’Leary, CLFP. was promoted to chief people officer in addition to her current role as chief operating officer. Nick Fong, CLFP. was promoted to chief technology officer in addition to his current role as chief marketing officer. Sarah Uballez was promoted to VP of treasury and accounting.

AP employees shifted to work from home at the beginning of Q2/20 in early March. AP’s response to adapting to a new workflow, paired with cloud-hosted services and technology, allowed for agility during this transition. Furthermore, AP’s customers were offered payment relief options, allowing businesses whose revenues were affected by the pandemic, to defer their payments until their business resumed a modified normalcy.

“The terms uncertain and unpredictable have been used a great deal in the past four to five months, and yes, those descriptions are completely accurate,” Chris Enbom, CLFP, CEO of AP Equipment Financing, said. “However, acting quickly, decisively and trusting your employees to adapt and thrive in tough and changing conditions can create a solid foundation on which to excel in this continually evolving economy.”