AP Equipment Financing

What AP Equipment Financing does

AP Equipment Financing is a U.S.-based direct equipment lender founded in 1998 and headquartered in Bend, Oregon, with an additional office opened in Minnesota in 2025. The company provides equipment finance agreements (EFAs), leases, and wholesale floor plan credit to small and mid-sized businesses operating in approximately ten specialty verticals, including arbor and tree care, construction, delivery contractors (FedEx Ground, Amazon DSP, OnTrac), towing, septic and wastewater, portable sanitation, groundwater, cleaning and restoration, and automotive repair. Its core technology stack consists of an in-house direct lending platform with secure online credit application, DocuSign-enabled electronic document signing, and a Salesforce-based customer portal for account servicing; no APIs, SDKs, or developer-facing tools are exposed, and AI/ML capabilities are not present in disclosed functionality.

The company monetizes primarily through interest and fee income on financed equipment under 3-7 year EFA terms (95% of customers select this structure, transferring ownership at end of term), supplemented by interest income on inventory floor plan lines to dealers, vendor program transaction economics with manufacturers and dealers, and fleet rental revenue from a separate AP Fleet Management division launched in 2024. Pricing is not publicly disclosed but reflects competitive market rates tied to transaction size, equipment type, and credit quality; the standard first-and-last-month payment plus documentation fee structure is typical of equipment finance.

Go-to-market combines industry-specialist direct sales (with dedicated VPs for construction and towing), inside sales for SMB, a self-serve online application, dealer/manufacturer partnership programs (vendor financing and floor plan), referrals incentivized by $100 gift cards, and active participation in 16+ industry trade shows scheduled for 2026. Since 2019, AP has operated as a wholly-owned subsidiary of Tokyo Century Corporation (USA), a Japanese publicly traded financial services firm with $40B+ USD in assets and operations in 30+ countries; Tokyo Century balance sheet provides lending capacity that underpins AP's $1B+ managed portfolio and same-day funding offerings.

Name

AP Equipment Financing

Legal name

AP Equipment Financing Inc.

Website

https://apfinancing.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

51–100 employees

Short description

AP Equipment Financing is a U.S. direct equipment lender (founded 1998, Bend, Oregon) that provides leases, EFAs, and floor plan financing to small and mid-sized businesses across specialty verticals including arbor, construction, delivery contractors, towing, and septic. Wholly-owned by Tokyo Century since 2019, it manages $1B+ in portfolio receivables across all 50 states.

Ownership category

akta.pro rank

Product category

Equipment Financing

NAICS

Sales Financing (52222), Sales Financing (522220), Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing (532411)

SIC

Finance Lessors (6172), Services-Miscellaneous Equipment Rental & Leasing (7350), Services-Equipment Rental & Leasing, Nec (7359)

akta.pro primary industry

SME Equipment & Asset Finance (Leasing, Fleet, Capex) (FSABABAH)

Keywords

• Equipment financing
• Equipment leasing
• Vendor financing
• Inventory floor plan
• Commercial fleet financing

Headquarters

HQ city

Bend

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Equipment Financing: Equipment Finance Agreements (EFAs) and loans for businesses to acquire equipment. Customers make monthly payments over 3-7 year terms. 95% of customers opt for EFA which results in borrower owning equipment at end of term. Revenue generated through interest and fees on financed equipment.
2. Inventory Floor Plan Financing: Wholesale floor plan financing programs for dealers and suppliers. Provides credit needed to order more inventory and increase sales volume. Revenue through interest on floor plan lines.
3. Vendor Financing Programs: Financing programs for dealers and manufacturers to offer their customers. Application approvals in as little as 1 business day. Revenue through dealer partnerships and end-user financing.
4. Fleet Management Services: Short to long-term commercial fleet vehicle rentals including bucket trucks, pickup trucks, step vans, passenger vans, cargo vans. Provides fleet solutions from acquisition to remarketing.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels6 records

Core offering

AP Equipment Financing is a direct lender providing equipment financing agreements (EFAs), leases, vendor financing, and inventory floor plan financing to small and mid-sized U.S. businesses across specialty industries. The company funds 100% of equipment costs including taxes and soft costs, with terms typically ranging 3-7 years and approvals in as little as one business day. It also operates AP Fleet Management as a division offering commercial fleet vehicle rental, leasing, acquisition, maintenance, and remarketing services.

Product overview

AP Equipment Financing operates as a direct lender specializing in equipment leasing and financing solutions for U.S. businesses since 1998. The company's product portfolio centers on three core offerings: Equipment Financing (through Equipment Finance Agreements and lease programs), Vendor Financing (partnership programs for dealers and manufacturers), and Inventory Floor Plan Financing (wholesale credit lines for dealers). These core products are supported by specialty financing programs including Specialty Vehicle Financing, Delivery Vehicle Leasing, and Section 179 tax-advantaged financing options. The company also operates AP Fleet Management as a division offering fleet management, rental, and remarketing services, with an AP Flex Program providing flexible leasing terms. The Customer Portal and Secure Online Application serve as the primary digital platforms for account management and credit applications. AP functions as a wholly-owned subsidiary of Tokyo Century (USA), providing the financial backing of a global organization with personalized service.

Differentiator

Problem solved

Functional benefit

Brands

• AP Fleet Management: Fleet management division offering acquisition, leasing, rental, maintenance, and remarketing services for commercial fleets.

Products and services

• Equipment Financing Equipment financing agreements (EFAs) and lease programs that allow businesses to acquire essential equipment while preserving cash flow. Offers 100% equipment financing including taxes and soft costs, with terms typically 3-7 years and monthly payments.
• Vendor Financing Financing programs for manufacturers and dealers to offer their customers. Provides competitive rate options and includes a dedicated vendor team to build financing relationships with dealers nationwide.
• Inventory Floor Plan Financing Wholesale floor plan financing programs for dealers and suppliers to access credit for ordering more inventory and increasing sales volume. Includes manufacturer/distributor financing and dealer credit application options.
• AP Fleet Management Fleet management services covering acquisition, leasing, rental, maintenance, and remarketing for commercial fleet vehicles. Offers consultative approach to understanding fleet needs and delivering scalable fleet strategies.
• Specialty Vehicle Financing Financing for specialty vehicles including material handling cranes, tree removal cranes, tool trucks, liquid and solid waste trucks, street sweepers, and heavy haul tractors and trailers.
• Delivery Vehicle Leasing Leasing options for package and delivery contractors including FedEx Ground, Amazon DSP, and OnTrac operators. Provides access to step vans, cargo vans, cutaways, and Class 3-8 tractors with flexible financing terms.
• Fleet Rentals Short to long-term vehicle rental solutions for bucket trucks, pickup trucks, step vans, passenger vans, and cargo vans. Rentals can convert to purchase or lease options.
• AP Flex Program Flexible leasing program designed to provide equipment on adaptable terms, allowing businesses to manage cash flow and adapt to changing equipment needs without long-term commitments.
• Section 179 Financing Equipment financing programs that qualify for Section 179 tax deductions, allowing businesses to write off the full cost of equipment (up to $2,560,000 for 2026) financed and placed in service within the tax year.

Quantifiable outcome

• Application approvals in as little as 1 business day
• +3 more outcomes

Named customers10 records

Segments10 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core and minor.

• PALFINGERcoreStrategic or Co-development Partner · 1 January 2024Strategic partnership with PALFINGER, a global market leader in crane and truck equipment manufacturing. AP Fleet Management invested over $30 million in fleet rental assets in 2024 as part of this partnership, providing commercial fleet vehicles to customers.
• PolyjohnminorOthersEquipment supplier for portable sanitation products. AP customers purchased slide-in tanks and other equipment from Polyjohn at trade shows with fast financing turnaround.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• TimePayment: Vendor-channel equipment lessor focused on B2B equipment financing through dealer/ISO partnerships, directly analogous to AP's vendor financing and floor plan business.
• Balboa Capital: Direct competitor providing equipment financing and working capital loans to SMBs across verticals including construction, transportation, and commercial equipment, with a relationship-led sales motion very similar to AP.
• Direct Capital Corporation: Equipment financing specialist serving U.S. SMBs with equipment loans and leases across construction, transportation, and commercial industries — directly comparable in target customer, product mix, and channel-led GTM.
• Marlin Capital Solutions: Direct competitor providing equipment financing to small and mid-sized businesses via a partner/dealer channel model, overlapping strongly with AP's vendor financing and SMB equipment loan programs.
• Crest Capital: Equipment financing and leasing provider focused on SMBs and vendor partners, competing head-to-head with AP in commercial equipment verticals with similar relationship-driven sales model.
• Stearns Bank: Specialty bank with a focused equipment finance division targeting small businesses and equipment dealers, overlapping with AP's product set, channel model, and customer segments.
• Northpoint Commercial Finance: Asset-based and equipment finance lender serving SMB and middle-market borrowers across commercial and industrial equipment — overlapping in target customer profile and specialty equipment focus.
• Western Equipment Finance (Greater Nevada Credit Union subsidiary): Specialty equipment financing provider focused on small business lending across agriculture, construction, and transportation, with a regional dealer-channel model comparable to AP's vertical strategy.

Broad incumbents

• CIT (First Citizens Bank): Large diversified commercial lender with a strong equipment finance vertical serving mid-market and SMB clients; broader product suite but overlaps directly with AP's core equipment finance business.
• DLL Financial Solutions: Global vendor finance company (Rabobank subsidiary) offering equipment leasing and finance across multiple industries; competes with AP's vendor financing programs and serves similar SMB end-customers.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/apfinancing
• Facebookfacebook.com/apfinancing

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AP Equipment Financing