Ascentium Capital LLC today announced second quarter 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,” remarks Tom Depping, Executive Vice President, Ascentium Group Manager. “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.”
Ascentium Capital was recently ranked as the nation’s largest private independent equipment finance company in the United States for the fourth consecutive year based on 2019 annual funded new business volume. The Company also ranked 12th in new business volume generated through the vendor channel. Rankings are designated by the Monitor, a publication serving the equipment finance industry. As 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. 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,” comments Richard Baccaro, 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 $144 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.