MMP Capital funded more than $65 million for customers in Q1/23, marking a 20% year-over-year increase compared with the same period in 2022.
“Despite the macroeconomic conditions, MMP had another strong quarter,” John-Paul Smolenski, president and CEO of MMP Capital, said. “While many companies are either down, or flat, MMP has been a reliable financing source for small businesses in the healthcare, graphic arts and jewelry making industries. That reliability has especially led to diversification in the aesthetic healthcare market, where the tide has gone out and exposed many of the companies who were not well suited for the market. MMP’s hyper efficient business model, competitive terms and superior understanding of the aesthetic healthcare industry has helped our customers, key vendors and lending partners enjoy continued success.
“The current credit environment has helped MMP Capital bring on a lot of new vendor referral sources that [have] been mutually beneficial. Many of these companies were shocked to see how much value MMP creates with our ability to consistently approve applications inside of 30 minutes, while the companies that they used to work with were taking four to five days just to respond to them. The momentum is on our side, and we embrace any opportunities to compete with other companies in the space and make a positive experience for our customers and vendor partners.”
