Quality Leasing Co., Inc., 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, the Carmel, IN-based leasing firm boasted 58 percent more transactions funded and 47 percent more funding by volume year-over-year as compared to the same four-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 percent 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.”

Quality Leasing 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.