Ascentium Capital reported Q2/20 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,” Tom Depping, executive vice president and Ascentium group manager, said. “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.”
Monitor recently ranked Ascentium Capital the nation’s largest private independent equipment finance company for the fourth consecutive year. The rankings were based on 2019 annual funded new business volume. The company also ranked 12th in new business volume generated through the vendor channel. Now 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,” Richard Baccaro, senior vice president of Ascentium sales and marketing, said. “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.”
Ascentium Capital, a subsidiary of Regions Bank, provides business equipment financing, leasing and loans across the United States.
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