Ascentium Capital Reports 30% Growth During Third Quarter
KINGWOOD, Texas – October 9, 2019 – Ascentium Capital LLC, an award-winning commercial lender, today announced funding volume of $392.4 million during third quarter representing a 30% increase over the same period last year and reached $2.4 billion in managed assets.
“I’m proud of Team Ascentium delivering a finance experience that outperforms the competition while managing risk. We’re pleased about the large national programs we are winning with equipment providers and our repeat business efforts that are key drivers of growth,” remarks Tom Depping, Chief Executive Officer at Ascentium Capital.
The Company is experiencing growth in the key markets it serves including commercial vehicle, franchise, healthcare, hospitality and technology. Recent growth milestones for the Company include:
Reached $1.1 billion YTD in funded volume
Surpassed 100,000 unique SMB clients since inception
Achieved 48% growth in funded volume over last year in direct sales channel
All departments within Ascentium Capital take a disciplined approach to drive the organization’s organic growth. Business development managers focus on winning business that meets the Company’s ideal vendor profile. The use of data-driven decision-making is used to capture new and repeat business. The success of this discipline has driven the demand for Ascentium’s finance products. As result, the Company is recruiting across the country for vendor and direct sales personnel with equipment financing experience.
“The skill and dedication of our employees enables us to significantly differentiate ourselves and bring lasting value to our customers. We look forward to a successful fourth quarter including celebrating women in business in honor of October’s National Women’s Small Business Month,” remarks Richard Baccaro, Chief Sales and Marketing officer at Ascentium.
As a direct lender, Ascentium Capital LLC specializes in providing a broad range of financing, leasing and small business loans. The Company’s offering benefits equipment manufacturers and distributors as well as direct to businesses nationwide. Ascentium Capital is backed by the strength of leading investment firm Warburg Pincus LLC. For more information, please visit AscentiumCapital.
The National Equipment Finance Association (NEFA) is a nonprofit trade association created to represent the equipment leasing and finance industry throughout North America by providing a forum for personal and professional growth through Community, Education and Professionalism.