March 9, 2016
Ascentium Capital launches merchant finance division
KINGWOOD, TX–Ascentium Capital, a US commercial lender providing comprehensive finance solutions, announced that it is now offering a specialized financing program to Independent Sales Organizations (ISOs) and to their clients, retail merchants.
“The creation of our merchant finance division is an exciting opportunity to fill a void in an underserved market,” commented Tom Depping, Chief Executive Officer at Ascentium Capital. “We will be able to drive substantial business for our ISO partners and enhance their merchant relationships with the expert leadership that has joined our company and with our broad product offering.”
The Merchant Finance Program has a streamlined approval and financing process for both the ISO’s and the merchants. Application-to-funding occurs the same day. Additionally, merchants are able to finance nearly anything including countertop to tablet-based POS equipment as well as have access to small business loans to meet working capital needs and other financing and leasing options for business equipment and technology.
The new division will be managed by Bob Neagle, President and General Manager of Merchant Finance, who recently joined Ascentium Capital from First Data Global Leasing. Neagle brings over 12 years of expertise in the merchant finance segment and over 30 years in financing. “Bob’s experience will help drive this new initiative and we look forward to the opportunity to help our ISO partners grow their businesses. Ascentium’s financial products and simplified process will enhance the offering that is currently available to this niche,” remarks Richard Baccaro, Chief Sales and Marketing Officer at Ascentium Capital.
As a direct lender, Ascentium Capital LLC specializes in providing a broad range of business financing, leasing and working capital 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 firms Vulcan Capital and LKCM Capital Group, LLC.