AP Equipment Financing Reports 16.3% Increase in Q1 Funding Volume, Adds Business Development Execs

AP Equipment Financing increased Q1/24 funding volume by 16.3% compared to Q1/23, with the company projecting continued success in 2024 driven by industry expansions and targeted origination strategies.

In addition, AP recently hired Mike Snyder as senior director of business development in its new fleet and mobility division and John Pratt as senior vice president of business development for its specialty vehicle division.

Snyder has 30 years of experience and will help expand AP’s presence in the fleet and mobility sector by building and fostering strategic relationships and implementing fleet solutions for clients across all industries.

“We are extremely excited to have Mike Snyder join the fleet and mobility division at AP,” Alex Coveney, executive vice president of fleet and mobility at AP, said. “Mike’s vast experience with rental and leasing, along with his innovative mindset and priority on the client experience, perfectly aligns with AP’s core mindset and the vision of the fleet and mobility division.

Pratt has more than three decades of experience in vocational and specialty vehicle financing and program development with equipment manufacturers. Pratt previously played a role in establishing Wells Fargo Equipment Finance’s specialty vehicle group and has experience in providing financing solutions for truck dealers and their customers.

“I am excited to join AP Equipment Financing as senior vice president of business development,” Pratt said. “In this role, I am committed to putting a veteran sales team together and growing the footprint of AP Equipment Financing.”

“AP is thrilled to welcome such talented and seasoned professionals to run the targeted expansion of these industries,” Chris Lerma, CLFP, president of AP, said. “With their leadership, we are poised to achieve exponential growth and record-breaking Q2 funding in 2024.”

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