AP Equipment Financing (AP) funded a record $63.5 million in Q1, a 50 percent year-over-year growth increase from Q1 2021. AP funded 906 transactions in Q1 2022, 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.” States Chris Lerma, CLFP, president of AP. “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.”
A significant contributor to this year’s Q1 growth is AP’s 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.” Says Al Steinhaus, AP’s SVP of Business Development and Sales. “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.”
AP Equipment Financing is looking forward to what the rest of 2022 will bring as AP continues to streamline front and back-end efficiencies to prepare for more high-volume quarters.
About AP Equipment Financing
AP Equipment Financing was founded in 1998 to provide businesses with a fast, easy, and more personalized way to access and finance the specialized equipment financing they need. In 2019, AP Equipment Financing became a wholly owned subsidiary of Tokyo Century USA.
