KINGWOOD, Texas -- Ascentium Capital LLC came in first on Monitor’s Top Private Independent list of equipment leasing and finance companies, which are ranked by annual funded new business volume.
The national commercial lender rose from third place to first in the 2016 rankings with year-end funded volume reaching $898.5 million.
“We made impressive progress growing Ascentium since our founding just over five years ago,” Ascentium Capital CEO Tom Depping said. “We are honored to be ranked as the largest independent finance company, which is a testament to the strength of our platform and the dedication of our employees who deliver exceptional service and support to our small business customers.”
As it continues to grow, Depping said Ascentium will remain focused on expanding its reach in specialized markets such as franchise, healthcare, petroleum and technology. It will also continue to invest in new products and technology to enhance the financing experience.
“The equipment financing industry is extremely competitive and our ability to grow our market share demonstrates the tremendous value we deliver to our equipment vendors and business clients nationwide,” said Richard Baccaro, chief sales and marketing officer of Ascentium.
Kingwood, Texas-based Ascentium Capital provides financing, leasing and small business loans and is owned by investment firm Warburg Pincus LLC.
Ascentium Capital announced earlier this month that its first-quarter 2017 funded volume reached $225.1 million, representing 25.5% growth, and managed $1.6 billion in assets, representing a 37.7% increase year over year. Ascentium Capital also experienced a record month in March with $259.6 million in credit application volume.
Monitor is an independent trade publication in the equipment finance and leasing industry.