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AP Equipment Financing Announces Record Funding Volume in 2022

January 12, 2023, 07:23 AM
Filed Under: Industry News

AP Equipment Financing announced the company funded a record $327 million in 2022, representing a 38 percent year-over-year growth. This achievement is a result of the company's continued focus on its strategic plan to advance technologies, develop competitive streamlined finance programs in underserved markets, expand product offerings and provide a high-quality experience to customers and vendor partners.
AP is now actively managing a portfolio of nearly 13,000 contracts and $635 million of receivables. In 2022, the company introduced new technologies to streamline and simplify the customer experience by expanding the current functionality of its customer portal. Additionally, the company continued to build strong relationships with customers, vendors and manufacturers to provide the best customer experience throughout the entire transaction cycle.

"We are thrilled to have achieved such significant growth in funding volume despite challenges we faced with equipment inventory and navigating through the current rate environment," said Chris Lerma, CLFP, President of AP Equipment Financing. "This is a testament to the hard work and dedication of our team, as well as the trust and confidence of our customers. We are committed to providing the best possible experience for our customers, and we will continue to invest in technology and expand our product offerings to achieve that goal."

The company's success in 2022 reflects the strong demand for equipment financing in the current economic climate, as well as the company's commitment to meeting the needs of its customers and business partners alike.

"We are grateful to our customers for choosing AP Equipment Financing as their partner in equipment financing," said Nick Fong, CLFP, Chief Marketing Officer and Chief Technology Officer of AP. "We are dedicated to bringing value added technologies that expedite the mundane so that our team can prioritize the lasting relationships that our company builds with its customers.”

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