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Ascentium Capital Reports Q1 Funding Volume of $366.5MM, Up 17.4%

April 21, 2020, 07:25 AM
Filed Under: Company Announcements

Ascentium Capital LLC announced first quarter 2020 funded volume of $366.5 million, representing a 17.4 percent increase and $2.4 billion in managed assets, representing a 14 percent increase over the same period last year.

“While going through unprecedented times with COVID-19, Ascentium is staying focused on helping businesses succeed with our financial offering. Organizational initiatives remain stable with the strength of our tenured management team and our proprietary technology. We anticipate an evolving economy but serve a broad array of markets which supports portfolio diversification,” said Tom Depping, Executive Vice President, Ascentium Group Manager.

Ascentium Capital’s priority during the COVID-19 situation remains the wellbeing of employees, clients and communities across the United States. Ascentium Capital has implemented a comprehensive continuity plan that maintains operations with the ability to serve equipment providers and business clients with mobile-enabled technology and remote-location procedures. Business practices remain committed to credit quality, asset management and client service.

“Our organization quickly pivoted sales and service strategies during first quarter to meet the needs of equipment vendors and the businesses we serve. We remain dedicated to our business development initiatives, remote recruiting efforts and collaboration with our clients,” said Richard Baccaro, Senior Vice President, Ascentium Sales and Marketing.

Ascentium Capital LLC, a subsidiary of Regions Bank, specializes in providing a broad range of business equipment financing, leasing and loans across the United States.

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