Ascentium Reports 23% Growth Y/Y in May Funding Volume
JUN 5, 2019 - 7:00 am
Commercial lender Ascentium Capital reported a new record in monthly funding volume since the company’s founding in 2011, obtaining $131.6 million in originations during the month of May and representing 23% growth over the same period last year.
“We’re extremely pleased with reaching another milestone,” said Tom Depping, Ascentium CEO. “Our people and our specialized finance processes deliver financing flexibility, allowing us to meet a broad array of business needs. This drives our differentiation and is the catalyst for the demand of our financial products.”
The company has provided financing to nearly 90,000 businesses in the United States. Ascentium’s footprint continues to expand and drive recruitment efforts for financing sales professionals in key vertical markets. Personnel is expected to increase by nearly 20% at the corporate office in Kingwood, TX, along with additions to national sales locations.
“Our focus remains on delivering shared successes with our vendors, end-users and employees,” remarks Richard Baccaro, chief sales and marketing officer. “We are very proud of the value we deliver and even in this extremely competitive business climate, we anticipate another record-breaking year.”
Ascentium Capital is a direct lender which specializes in 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.
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