Quality Leasing Continues Record-Breaking Volume through Q2 2022
–With Volume Up 95% YoY, Quality Focuses on Growing with TPOs & SMBs —
CARMEL, Ind. – Quality Leasing Co., Inc. (QL) posted a 95% increase in funding volume year over year for the first half of 2022. Additionally, the number of funded transactions grew by 50% in the same period; and average contract size rose by 30% to just over $100,000.00. The Carmel, Indiana-based commercial equipment finance company also noted exceptional growth in the number of referral partners served, types of asset classes and industries funded, and repeat borrowers financed.
Quality Leasing Managing Director, G. Paul Fogle, CLFP, commented on the company’s achievement, “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. 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 of 2022, 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. Fogle elaborated on the program’s success, “We are thrilled with the roll-out of EZ-Q. 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.”
With myriad economic factors also affecting the company’s performance, Quality COO, C.J. Zaruba, noted, “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.” May of 2022 also heralded Quality Leasing’s 65th anniversary where attendees of the AACFB spring conference in Charlotte, NC shared in the celebration. Zaruba, Fogle, and the Quality leadership team remain optimistic about the firm’s sustained growth trend through the end of 2022.
About Quality Leasing Co.
For more than 65 years, Quality Leasing Co., Inc. has offered business owners across the U.S. commercial equipment financing with flexible terms, convenient structures, and personalized service. Funding equipment from aesthetic lasers to titled vehicles—and everything in between—Quality focuses on A- to C credit transactions from $30,000 up to $3,000,000. The Quality team strives to make the financing process fast and easy for every customer, every time. How do we do it? By adhering to Quality's core values of being passionately driven, staying humbly confident, showing uncompromising integrity, and maintaining a sincere desire to help others. For more information, please visit us at www.qualityleasingco.com.