AP Equipment Financing funded a company record $63.5 million in Q1/22, marking a 50% year-over-year increase from Q1/21. The company funded 906 transactions in Q1/22 with an average transaction size of $70,040.
“Our continued focus on providing superior personalized service and flexible financing options has contributed to impressive quarter-over-quarter growth,” Chris Lerma, CLFP, president of AP Equipment Financing, said. “In this competitive environment, small business owners and dealers have several options to turn to for their financing needs, so we are proud to be able to grow our existing programs and relationships while continuing to expand into new segments.”
According to the company, a significant contributor to its Q1/22 growth is its expanding vendor division.
“AP’s vendor group continues to partner with and work closely with our OEM and dealer partners. By working together as a team, we have been able to assist with selling more equipment and closing sales that were delayed due to supply chain challenges,” Al Steinhaus, senior vice president of business development and sales at AP Equipment Financing, said. “The AP vendor group continues to grow our business and are adding new relationships with key OEM/vendors where we can add real value to their sales and marketing strategies. We expect steady growth for the remainder of 2022 despite any economic challenges in the marketplace.”
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