KINGWOOD, TEXAS, June 4, 2019 - Ascentium Capital LLC, an award-winning commercial lender, announced today a record in monthly funding volume since the Company started in 2011. Ascentium Capital obtained $131.6 million in originations during the month of May, representing 23% growth over the same period last year.
“We’re extremely pleased with reaching another milestone,” said Tom Depping, Chief Executive Officer at Ascentium Capital. “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 this drives recruitment efforts for financing sales professionals in key vertical markets. Personnel is expected to increase by nearly 20% at the corporate office located in Kingwood, Texas as well as additions to the 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.”
As a direct lender, Ascentium Capital LLC specializes in providing 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. Ascentium Capital is backed by the strength of leading investment firm Warburg Pincus LLC. For more information, please visit AscentiumCapital.com.