Quality Leasing Announces 47% YoY Growth
FOR RELEASE SEPTEMBER 9, 2020
--Quality Leasing Co., Inc. Funds 47% More New Business Volume in May – August of 2020 than Same Period in 2019--
CARMEL, Ind. – Quality Leasing Co., Inc. (QL), the mid-tier commercial equipment financing subsidiary of the Tom Wood Automotive Group, achieved significant growth in new business funding volume despite the global COVID-19 pandemic. In the months of May through August 2020, the Carmel, Indiana-based leasing firm boasted 58% more transactions funded and 47% more funding by volume year-over-year as compared to the same 4-month period in 2019. Additionally, August 2020 set a record with the largest single month origination volume in the company’s 63-year history.
Quality’s Managing Director, G. Paul Fogle, CLFP, noted: “Despite the challenges of 2020, Quality has been steadfast in our commitment to serve America’s small and mid-sized businesses.” Fogle attributed the company’s 47% increase in funding volume to a number of factors including: Quality’s ability to finance equipment across various economic sectors—covering most COVID-19 essential businesses, consistent underwriting guidelines that withstand changing economic conditions, the adoption of DocuSign for all non-titled financing contracts, and the recent addition of key personnel to Quality’s management, sales, and admin teams. He went on to point out, “The entire staff did a fantastic job of adapting to the new, COVID-19-adjusted work environment—deftly handling payment deferrals for current customers while maintaining uninterrupted service for adding new customers.”
About Quality Leasing Co.
Quality Leasing co., Inc. is a Midwest-based, family-owned independent finance company offering flexible terms, convenient structures, and personalized service. Quality focuses on funding B-C credit transactions from $30,000 up to $3,000,000. Specializing in titled vehicles, manufacturing, and heavy equipment, Quality also funds a wide array of commercial assets through their nationwide lease financing programs at a fair, affordable monthly payment. For more information, please visit www.qualityleasingco.com.
G. Paul Fogle, CLFP