APPROVE is on the move

Since APPROVE’s official launch in 2020, the platform has received multiple industry awards for technology, disruption and innovation. In fact, APPROVE’s CEO, Robert Preville, accepted an invitation to join the Equipment Leasing and Financing Association’s (ELFA) Innovation Board.

APPROVE has received more than $5 million in investment funding and is scaling rapidly as one of the fastest growing equipment financing companies in the US. We firmly believe we’ve created the smartest, most effective equipment financing solution that exists anywhere in the world, and we invite equipment manufacturers, distributors and dealers to give us a try.

Let’s make it easy for businesses to finance equipment

In 2020, we decided to expand our offering from equipment rentals to include equipment financing. After a little trial and error, some testing and a whole lot of innovation, we developed a technology-based financing platform that embedded financing estimates and digital applications directly into our marketplace equipment product pages.

Now KWIPPED customers could see affordable monthly finance payments listed next to every product and they could click and apply in about 60 seconds directly on the product page. Our new financing experience closely resembled a streamlined e-commerce shopping cart experience…and it worked better than we ever expected.

More lenders approve more applications

We also quickly realized that there are various types of businesses with diverse backgrounds and distinct credit profiles. It became clear that no single lender could adequately support the wide spectrum of customers applying for financing through KWIPPED. As a result, we curated a network of handpicked lenders that collectively could approve a variety of businesses across the broadest range of credit profiles. Whether a company had many years in business with stellar credit or was a startup with less than perfect credit, we had lenders who could approve their applications.

APPROVE disrupts decades of status quo

We knew right then that we had created something valuable for equipment buyers and sellers…something far better than the industry status quo. So, we decided to spin off the equipment financing platform we had built for our own marketplace and make it available for B2B equipment sellers to deliver financing options to their customers. Since our lender network was capable of approving more applications than any individual lender…ever…we decided to call our new financing solution, APPROVE…and a new journey was under way!

Robert is a serial entrepreneur and investor, having founded and led several high growth companies in the B2B arena. Prior to KWIPPED, Robert founded and sold GlobalTestSupply.com, a world-class provider of test and measurement equipment that ranked #800 on the INC 5000 fastest growing companies list. Prior to that, he was the founding employee and Vice President of Sales for MFG.com, the leading online manufacturing marketplace and a portfolio company of Jeff Bezos's Bezos Expeditions. Robert started his career at EDS (now Siemens), is co-owner of the Greater Wilmington Business Journal, is an active angel investor via IMAF Cape Fear in Wilmington, NC and holds a Bachelor of Science degree in Mechanical Engineering from the University of Maryland, College Park.