Ascentium Capital ranked as the largest private independent finance company by annual funded new business volume in 2016, according to Monitor’s Top Private Independents Rankings.

Ascentium rose from No. 3 in last year’s rankings by reaching $898.5 million in year-end funded volume.

Tom Depping, CEO of Ascentium Capital, said, “We made impressive progress growing Ascentium since our founding just over five years ago. We are honored to be ranked as the largest independent finance company, which is a testament to the strength of our platform and the dedication of our employees who deliver exceptional service and support to our small business customers. We will remain focused on expanding our reach in specialized markets including franchise, healthcare, petroleum and technology while continuing to invest in new products and technology to further enhance the financing experience.”

“The equipment financing industry is extremely competitive and our ability to grow our market share demonstrates the tremendous value we deliver to our equipment vendors and business clients nationwide,” said Richard Baccaro, chief sales and marketing officer for Ascentium Capital. “With the strength of our specialized team members and client relationships, we are well positioned to continue our success.”