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AP Equipment Financing 2021 Originations Up 22% to $238MM

January 05, 2022, 07:30 AM
Filed Under: Industry News

AP Equipment Financing funded a record $239 million in 2021, a 22 percent growth over 2020. AP’s growth came despite supply chain issues and equipment shortages that affected its vendors customers in 2021.

AP Equipment Financing President Chris Lerma, CLFP, said, “The year started off slow with some lingering uncertainty from 2020, but we continued to stay focused on the strategy of leveraging our technology, systems, industry expertise and dedicated team to finish with our strongest year to date. We are grateful for all of our employees’ hard work and dedication while continuing to work in a remote environment.”

AP Equipment Financing has continued to fine-tune its systems to enhance efficiency and create opportunities for optimal growth through optimizing its digital technologies, enhancing back-end efficiencies and revamping its dedicated vendor origination program. These efforts were rewarded with a record-breaking fourth quarter funding volume of $86 million.

 AP Equipment Financing now actively manages a portfolio of 12,000 contracts and over $500 million of receivables. The company is grateful to be in a position to help so many small businesses expand and grow through new equipment purchases.

“We continue to invest heavily in technology, and the investments are paying off with very high customer satisfaction with our financing and affiliated products. I am very proud of our highly professional staff who have positioned AP to continue to grow quickly in 2022 and beyond,” said Chris Enbom, CLFP, CEO.

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