Beacon Funding promoted Toby McDonough to president and appointed Ken Karpel as vice president of sales. McDonough will be responsible for leading and directing the Beacon Funding team with the support of Karpel and other senior management.

McDonough’s performance as the vice president of sales and marketing prompted his promotion to president.

While McDonough directs the company, Karpel, as the new VP of sales, will work to engage and empower Beacon’s sales team.

“I cannot think of a better person or time to be adding to our leadership team. Ken’s strong understanding of our leasing product, market and business client is invaluable,” McDonough said. “Ken brings with him a great reputation, and I have no doubt he, in conjunction with our existing talented leadership team, will help our sales team perform at the very highest level and ensure that our clients and equipment sales partners have the best possible experience. We are very fortunate that Ken is joining our organization.”

Karpel comes to Beacon with more than a decade of sales and professional development experience. Prior to his appointment as the VP of sales at Beacon, Karpel acted as the assistant vice president of professional development for Direct Capital.

“Sam Oliva [Beacon Funding’s CEO] and Toby articulate leveraging Beacon Funding’s long history of success into a very compelling vision for the future of the company,” Karpel said. “I am extremely excited to be a part of the Beacon family and plan to try to help them realize that vision.”