AP Equipment Financing hired Nick Gibbens as senior vice president of vendor finance. Gibbens will be responsible for the exploration and development of new market segments to AP. His primary objective is the establishment of vendor finance relationships and programs in newly targeted industry verticals with the support of current business development, marketing and sales teams.

“We are extremely excited to announce that Nick is joining the AP team. His experience and track record within the equipment finance world is exemplary and will be a huge asset to our organization,” said Chris Enbom, CLFP, CEO of AP. “With years of experience developing vendor programs as well as managing sales teams, we look forward to collaborating with him to continue the growth of our organization and offer new and exciting programs to our customers.”

Gibbens comes to AP with more than 30 years of experience in equipment-based lending and vendor finance and has held management positions at Bank of the West, Trinity Capital and United States Leasing.

“Nick’s history in product diversification is a welcome perspective to our organization and our portfolio,” said Chris Lerma, CLFP, chief credit officer of AP. “His experience of spotting growth trends within burgeoning industries will assist in AP’s overall diversification, product offering, and general growth.”

AP now manages approximately 3,000 equipment finance contracts and has grown from originating $38 million in 2013 to $73 million in total equipment cost in 2016.