Ascentium Capital LLC, a national commercial lender, exceeded projections, reporting fourth quarter funding volume of $374.6M. Fueled by strong performance in the quarter, the company ended the year at $1.43 billion, up 14% over the prior year.
“Business owners and managers are working every day to build successful strategies for the future, and Ascentium Capital is proud to be on the front lines with these companies, connecting them with financial solutions that can help them not only meet their financial objectives but also grow and thrive in a competitive environment. Certainly, the pandemic has prompted many industries to reassess their financial needs, and constant innovation means the equipment needs of companies from many sectors will continue to evolve. We are proud to have delivered strong results for our clients in 2021 based on our experience and insights. Additionally, we are proud to be part of Regions Bank, a company dedicated to meeting the holistic needs of business clients. We look forward to building on our progress in 2022 by taking a client-focused, team-based approach toward helping customers access the equipment and tools they need in an effective and efficient manner.” said Tom Depping, executive vice president and Ascentium group manager.
Since its inception in 2011, Ascentium Capital has provided $8.9 billion in specialized equipment financing and business loans to commercial entities nationwide. The company offers customized finance programs for equipment manufacturers and distributors
with simplified application procedures to help businesses in a broad array of industries including commercial vehicles, energy, franchise, healthcare, industrial, and technology.
“I’m very proud of everything this team accomplished coming off a year characterized by unprecedented market disruption,” noted David Lyder, senior vice president of Ascentium Sales and Marketing. “We’ve played a key role in helping our customers build their businesses. To ensure we’re supporting our constituents to the best of our ability, we continue to invest in new offers, technology and operational efficiencies. Additionally, we are building our sales teams to deliver more personalized service.”
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 $163 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 1,300 banking offices and more than 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.
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