AP Equipment Financing Closes $57MM Line with BMO Harris
DEC 5, 2016 - 6:21 am
Allegiant Partners, dba AP Equipment Financing, closed an increase to $57 million of its senior credit facility with BMO Harris Bank.
“AP Equipment Financing has grown quickly over the past several years. BMO Harris Bank has been very responsive to our needs and has allowed us to invest in growth,” said Chris Enbom, CEO at AP.
Bob Bomben, director at BMO Harris Bank in Chicago added, “We appreciate the professionalism of AP Equipment Financing’s staff. We understand AP’s vision and we are proud to be funding a cutting-edge company. AP has invested heavily in its technology, operations, sales and marketing capabilities since we began our banking relationship in 2010. It has been a pleasure to be a part of their growth and success.”
Umpqua Bank, an Oregon based community bank, is a participant in the credit facility.
AP now manages approximately 3,000 equipment finance contracts and has grown from originating $38 million in 2013 to $75 million in total equipment cost in 2016. Allegiant has approximately 45 employees in California, Oregon and Washington. AP owns Work Truck Direct, a medium-duty specialty truck dealer based in Bend, OR.
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