Quality Leasing posted a 95% year-over-year increase in funding volume for the first half of 2022. Additionally, the company’s number of funded transactions grew by 50% in the same period and its average contract size rose by 30% to more than $100,000. The Carmel, IN-based commercial equipment finance company also reported growth in its number of referral partners served, types of asset classes and industries funded and repeat borrowers financed.
“The Quality team is pleased to be able to serve so many SMBs across the U.S. — that includes our borrowers and our third-party originators,” G. Paul Fogle, CLFP, managing director of Quality Leasing, said. “We are constantly fine-tuning our newest tech platforms to make deal submissions easier, credit decisions faster and funding processes smoother for everyone involved.”
In May, Quality Leasing released EZ-Q, a new application-only program for transactions up to $150,000. EZ-Q utilizes the aggregate scoring models of PayNet, RiskView and Credco CoreLogic along with internal data analysis to generate quick approvals for transactions based off a simple submission containing an application and equipment spec sheet.
“We are thrilled with the roll-out of EZ-Q,” Fogle said. “The program stays true to our foundational approach of truly understanding a borrower and their business while allowing for speedy approvals that keep our referral partners happy.”
“Despite this quarter’s Federal Reserve rate hikes, the stock bear market and national inflation numbers, we remain confident in Quality’s long-standing, common-sense underwriting model,” C.J. Zaruba, COO of Quality Leasing, said.
Quality Leasing also marked its 65th anniversary in May, with attendees of the American Association of Commercial Finance Brokers’ spring conference in Charlotte, NC, sharing in the celebration.