MMP Capital, an equipment finance company based on Long Island, NY, has kicked off Q4 with an impressive $38.5 million in originations for the month of October. This comes after a successful third quarter of sales where the company noted a solid 12 percent year-over-year growth, funding $85 million in Q3 2023.
This significant increase in funding highlights the company's continued success and dedication to providing financing solutions for businesses looking to upgrade or expand their businesses with new equipment. MMP Capital has specialized in healthcare finance, with a hyperfocus in aesthetic medicine for companies of all sizes, offering flexible and competitive financing options that cater to their specific needs.
The company’s impressive growth in October can be attributed to one word: diversification. By introducing their speed and service to customers, and manufacturers alike, it has been hard for customers to resist. MMP Capital has been able to structure financing solutions that meet the demands of its clients consistently under 30 minutes, while other lending companies may take weeks or months.
Commenting on the impressive growth, CEO and President of MMP Capital John-Paul Smolenski said, “It helps to be well-capitalized in this market, which has been a key part of our success with our internal balance sheet, but we also have a strong demand for our paper from our key lending partners. Over the last 10 years we have really put an emphasis on separating the MMP brand from competitors in the aesthetic healthcare market. This is largely due to our commitment to providing high-level service to all of our clients, vendors and key lending partners."
With a powerful performance in October and Q3, MMP Capital is flirting with its $400 million origination goal for 2023. The company remains committed to supporting small business and helping them thrive, even in challenging economic times. MMP Capital's dedication to its clients and its focus on strategic growth initiatives have positioned it as a leader in the equipment finance industry.