AP Equipment Financing Posts Record Q1 Originations; Up 27% Y/Y
MAY 16, 2019 - 5:55 am
AP Equipment Financing set another financing volume record for the first quarter of 2019. AP closed Q1/19 funding $32.7 million of equipment to small and medium sized businesses across the U.S. This funded volume represents a 27.7% increase over Q1 of 2018.
“We are just starting to hit our stride”, stated Chris Enbom, CLFP, CEO of AP. “Our team continues to beat previous benchmarks and it is a testament to the dedication we have for our customers, our employees, our processes, and our vision!”
AP Equipment Financing closed 2018 financing a total of $127 million, showing a 44% overall increase in funded volume over 2017. AP continued to experience exponential growth in funded volume during 2019 Q1 and has projections to continue this rate of growth through strategic sales and marketing initiatives as well as increased operational efficiencies.
“These year over year increases in volume have been great for our organization, but have also exposed areas for improvement”, stated Raquel O’Leary, CLFP, chief operating officer. “We continue to challenge ourselves to be as efficient as possible, but at a certain point, you just need more personnel. Over the past quarter, the operations staff has increased by 15%. These key additions combined with our focus on efficiency have paved the way for scalable exponential growth.”
AP Equipment Financing is poised to capitalize on its current growth trends. Continuing to target highly specialized markets, AP is projected to have another record-breaking year in 2019.
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