Ascentium Capital LLC, a national commercial lender, announced today the Company achieved $1.25 billion in annual funded volume. The Company ended 2020 with $2.6 billion in managed assets representing 8.30% growth in assets year-over-year.
“Our 2020 accomplishments are celebrated with gratitude for our associates, clients and business partners. The pandemic heightened our steadfast commitment to our business relationships, and I am very proud of how our organization responded. We look forward to 2021 and the opportunities we can help our clients capture with our financing,” comments Tom Depping, Executive Vice President, Ascentium Group Manager.
Since the Company's inception in 2011, Ascentium Capital has provided over $7.5 billion in financing to clients across the United States. The Company serves small and medium size businesses including equipment manufacturers and distributors. To meet the broad array of business needs, the Company continually invests in its financing platform. Key technology initiatives during 2020 included:
“I am very pleased that during the fourth quarter our sales team secured six percent quarter-over-quarter funded volume growth. During 2021, we will continue to expand our sales team to meet the demand for our financing as well as continue our commitment to stay focused on the success of our clients,” remarks Senior Vice President, Ascentium Sales and Marketing, Dave Lyder.
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 $147 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.