Ascentium Capital LLC, a national commercial lender, exceeded projections, reporting fourth quarter funding volume of $374.6 million. Fueled by strong performance in the quarter, the company ended the year at $1.43 billion, up 14 percent 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,” said Tom Depping, Executive Vice President and Ascentium Group Manager. “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,” Depping said
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,” said 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.”
Ascentium Capital LLC is a subsidiary of Regions Bank.