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AP Equipment Financing Q2 Volume Up 49%, Promotes Employees

July 14, 2020, 07:25 AM

Navigating the complexities of lending through the COVID-19 pandemic, AP Equipment Financing funded $62.5 million worth of equipment in the second quarter 2020, representing a 49 percent growth over Q2 2019. AP financed $99.5 million year to date versus $75.8 million in 2019, showing 31 percent growth in comparison.

AP employees shifted to work from home at the beginning of Q2 in early March. AP’s quick response to adapting to a new workflow, paired with cloud-hosted services and technology, allowed for AP to be agile during this transition. Furthermore, AP’s customers were offered payment relief options, allowing businesses whose revenues were affected by the pandemic, to defer their payments until their business resumed a modified normalcy.

AP also announced several promotions that occurred in the second quarter:

  • Raquel O’Leary, CLFP, was promoted to Chief People Officer in addition to her current role as Chief Operating Officer.
  • Nick Fong, CLFP, was promoted to Chief Technology Officer in addition to his current role as Chief Marketing Officer.
  • Sarah Uballez was promoted to Vice President of Treasury and Accounting.

“The terms uncertain and unpredictable have been used a great deal in the past four to five months, and yes, those descriptions are completely accurate. However, acting quickly, decisively and trusting your employees to adapt and thrive in tough and changing conditions can create a solid foundation on which to excel in this continually evolving economy,” said Chris Enbom, CLFP, CEO of AP Equipment Financing.

AP continues to progress through a changing landscape, working from home and meeting exponential growth in revenue. AP looks forward to continued growth during 2020 despite having to navigate new, unprecedented challenges.

AP, based in Bend, OR, is part of Tokyo Century Corporation, which continues to support AP’s growth.

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