Ascentium Capital Surpasses $4 Billion in Originations
Texas-based lender Ascentium Capital announced last week that it had surpassed $4 billion in origination volume since the company was founded in 2011.
The company has two key channels of business. The vendor channel, in which Ascentium creates custom finance programs for clients like equipment manufacturers, distributors and resellers. It calls these clients its “vendor partners.”
“We do a lot of our business with vendor partners, typically [a company] selling something to a small business,” said Ascentium Capital CEO Tom Depping.
The other business channel is a direct channel where Ascentium makes direct loans to small and medium sized businesses of up to $250,000. Depping told deBanked that the company’s direct channel makes up about 30 to 40 percent of its business. Not an insignificant percentage. But he said that the company’s primary business is equipment finance via vendor partners.
Ascentium gets its leads from an internal sales team of 120 people and Depping said that he anticipates adding 50 additional sales people this year. Why the significant growth?
“Our award-winning finance platform, elevated levels of efficiencies and our personalized service continue to drive demand for our financial products,” said Depping. “Everything with us is very simple and very fast.”
The company currently employs 250 people with headquarters in Kingwood, TX, near Houston, with smaller offices in Dover, NH and Irvine, CA. Depping also counts 30 to 40 locations throughout the country where Ascentium Capital sales people either work from home or in micro-offices of one to two people.Last modified: April 18, 2018
Todd Stone was a reporter for deBanked.