Ascentium Capital LLC today announced first quarter 2020 funded volume of $366.5 million, representing a 17.4 percent increase and $2.4 billion in managed assets, representing a 14 percent increase over the same period last year.
“While going through unprecedented times with COVID-19, Ascentium is staying focused on helping businesses succeed with our financial offering. Organizational initiatives remain stable with the strength of our tenured management team and our proprietary technology. We anticipate an evolving economy but serve a broad array of markets which supports portfolio diversification,” comments Tom Depping, Executive Vice President, Ascentium Group Manager.
Ascentium Capital’s priority during the COVID-19 situation remains the wellbeing of employees, clients and communities across the United States. Ascentium Capital has implemented a comprehensive continuity plan that maintains operations with the ability to serve equipment providers and business clients with mobile-enabled technology and remote-location procedures. Business practices remain committed to credit quality, asset management and client service.
“Our organization quickly pivoted sales and service strategies during first quarter to meet the needs of equipment vendors and the businesses we serve. We remain dedicated to our business development initiatives, remote recruiting efforts and collaboration
with our clients,” remarks Richard Baccaro, Ascentium’s, Senior Vice President, Ascentium Sales and Marketing.
About Ascentium Capital LLC
Ascentium Capital LLC, a subsidiary of Regions Bank, specializes in providing a broad range of business equipment financing, leasing and loans across the United States. The Company’s offering is designed to benefit equipment manufacturers and distributors as well as direct to businesses nationwide. For additional information about Ascentium and its business financing products and services, please visit AscentiumCapital.com.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $133 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,400 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.