Daily News: November 7, 2012

Ascentium Capital Adds BofA, Credit Suisse to Lender Group


Ascentium Capital announced it added both Bank of America and Credit Suisse to its existing lender group, which currently includes UBS and Bank of Montreal/Harris Bank.

Tom Depping, chief executive officer of Ascentium Capital said, “We are pleased to have diversified our funding sources by adding two first class money center financial institutions with strong trading platforms.
We have aggressively grown our vendor sales force and monthly origination volume over the past year. Having four significant lending partners in our lender group provides us significant borrowing capacity and will enable us to more efficiently fund our business and attract talent.”

Ascentium Capital is backed by Vulcan Capital, the private investment group of Paul G. Allen, and a group of investors led by LKCM Capital Group, the alternative investment vehicle for Luther King Capital Management.