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Ascentium Capital Reports $255MM Q2 Funding Volume, Tops $2.5B in Managed Assets

July 22, 2020, 07:28 AM
Filed Under: Industry News

Ascentium Capital LLC announced second-quarter funding volume of $255.0 million, with year-to-date funding volume of $620.5 million. This enabled the company to achieve a new portfolio milestone, reaching $2.5 billion in managed assets.

“Ascentium’s executive team has successfully weathered several periods of economic uncertainty and we are leveraging this to respond to the current situation as the U.S. faces unexpected uncertainty for an unexpected duration,” said Tom Depping, Executive Vice President, Ascentium Group Manager. “Our specialized finance platform incorporates process flexibility which enables us to adjust quickly. We have a strong team in place dedicated to meet market demands while managing risk.”

Ascentium Capital was recently ranked as the nation’s largest private independent equipment finance company in the United States for the fourth consecutive year based on 2019 annual funded new business volume. The company also ranked 12th in new business volume generated through the vendor channel. Rankings are designated by the Monitor, a publication serving the equipment finance industry. As a subsidiary of Regions Bank, this represents the last year Ascentium will be evaluated as an independent.

“We are proud of our rankings which reflect our commitment to the equipment financing industry. The equipment providers we serve are being supported at enhanced levels with substantial marketing support and sales tools. The delivery of our value proposition has become extremely important during the COVID-19 pandemic and we remain focused on the success of our clients,” said Richard Baccaro, Senior Vice President, Ascentium Sales and Marketing.

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