Ascentium Capital Reviews - Financial Lender Pros & Cons
- Fast approval and funding - loan approval in minutes, and funding within 24 hours of approval.
- Most industries accepted as long as they meet Ascentium Capital's credit policy guidelines.
- Auto sales and non-profit organizations accepted (not accepted with most small business lenders).
- True business loans, and not a cash advance on future sales.
- Specific financing programs available for franchise-based businesses.
- Easy qualification - qualify on as little as three month's recent bank statements.
- No origination fee, in an industry known for origination fees.
- High credit score requirements for personal guarantors, at a minimum of 675.
- Relatively low maximum loan amount, at $150,000.
- Limited ability to refinance competitor loans, since there is a minimum 50% merchant net requirement.
- Merchant will be declined for a loan renewal if they layer a competitor loan on top of Ascentium Capital loan.
- No interest forgiveness on renewals.
About Ascentium Capital
Ascentium Capital LLLC is a leading provider of equipment and technology financing solutions. They offer financing and leasing for manufacturers, distributors, resellers, and franchise organizations. They also provide direct financing options for small, midsized and Fortune 500 companies.
Ascentium Capital provides Small Business & Working Capital loans and Equipment Financing & Leasing. They also offer Partner Financing program, which enables businesses to offer financing and leasing plans to their own customers, as well as franchise financing options.
The company was founded in 2011, and is based in Kingwood, Texas.
Ascentium Capital Drill Down
Ascentium Capital Blog. Ascentium Capital provides this resource to offer merchants business education. It includes dozens of articles on a multitude of topics important to small businesses. Some of the recent informational reports provided include:
- Why Does My Small Business Need an Environmental Sustainability Policy?
- The 3 Stages of a Press Release Distribution
- How Much Could Your Business Save with Section 179 Tax Incentives?
- Keep Your Information Safe in Times of Security Breaches
- Best Practices for Effective Tradeshows
- 8 Video Tools to Help Animate Your Marketing Efforts
Notice that many of the blog posts have an orientation toward marketing and growing your business. This is an area where a lot of small businesses could benefit from additional coaching. Ascentium Capital provides it.Company Reputation. Ascentium Capital has the following ratings from third-party business rating services:
- Better Business Bureau: A+ (highest rating), BBB accredited since 2015
- TrustPilot: Unrated
- Yelp: 1 star out of 5
- Glassdoor (employee reviews): 4.2 out of 5 (84%)
- Customer comments & complaints: RipoffReport
Licenses and Accreditations. The company is based in Texas, however it is not licensed through either the State of Texas Secretary of State or the Texas Banking Commission.
Ascentium Capital Short-term Business & Working Capital Loans
Small Business & Working Capital Loans are offered under the following terms:
Loan purpose. Loan must be used for a specific business purpose. Funds can be used for purchasing inventory, paying taxes, bridging payroll, business expansion, consumable supplies, technology upgrades, or anything else your business needs. Proceeds can also be used to pay off competitor loan balances, but merchant must net at least 50% of the loan proceeds.
Industries funded. Almost all industries will be considered as long as they meet Ascentium Capital credit requirements. Includes auto sales and nonprofit organizations, which are restricted almost everywhere else. Specific target industries include hospitality, healthcare and retail. Others include commercial and industrial, commercial vehicles, franchises, technology and software, and gas stations, convenience stores and carwashes.
Cautionary Industries. None. Ascentium Capital will consider any industry that meets their credit policy guidelines.
Interest rates. 1.11 to 1.36
Origination and document fees. $195 document fee, which is used to process the application, as well as cover expenses related to credit reports and UCC filings. Check required to be made to "Ascentium Capital LLC" from a business checking account, and is payable upon approval. There is no application fee or origination fee.
Loan term. 3 to 18 months.
Repayment frequency. Daily fixed payments. Ascentium Capital accepts credit cards for payment, including American Express, Visa and MasterCard.
No stacking. Merchant will be declined for a loan renewal if they layer a competitor loan on top of a Ascentium Capital loan.
Loan Renewal Policy. Ascentium Capital will consider a renewal as soon as at least 30% of the original loan balance has been paid.
Interest forgiveness. Not available. Early termination on your written request. The payoff amount is calculated using the present value rate to discount the future payments due under the agreement. There is no prepayment penalty or fee.
- Weekly repayments will be considered for companies with consistent daily ledgers.
- Will consider 50% ownership on a case-by-case basis, for files with strong commercial credit.
Small Business & Working Capital Loan Borrower Requirements
To qualify for a working capital loan through Ascentium Capital you must meet the following requirements:
- Be in business for at least two years
- Have at least 100% ownership in the business
- Maximum ending negative days - no more than three in the past three months (merchant cannot be negative at the end of a business day more than 3 times in the past 3 months)
- A minimum personal credit score of 675
- Loan amounts are determined by 3.5 times the merchant's average daily ledger (or average daily balance; for example, if a company averages $20k in their bank account, Ascentium Capital will likely approve them for a $70,000 loan - $20,000 X 3.5)
Ascentium Capital Loan Application Process
The Ascentium Capital loan application can be completed and approved in a matter of minutes. Funding can occur in as little as 24 hours after approval. The entire application process is completed online. No application fee is required, and the documentation fee will be charged only if your loan application is approved and accepted by you.
In order to make application, you need to provide the following documentation:
- Loan application
- Specific use of funds explanation
- Personal information of majority owner(s) (personal credit will be checked)
- Most recent three months of bank statements
Special situations to be aware of in the application process include:
- Personal guarantors are required on closely held companies in order to qualify for credit.
- Bank and financing references will be required.
- Both business and personal credit bureau ratings are used in the decisioning process.
Who Ascentium Capital Small Business & Working Capital Loans Work Best For
We've identified six types of merchants for whom Ascentium Capital can be a preferred loan source:
- Merchants who need money in a hurry. The loan application process can be completed in a matter of minutes, and approved shortly after. Funds can be transferred to your account in as little as 24 hours following approval. If a major business expense or acquisition opportunity comes up suddenly, you'll have the capital you need to go forward.
- Merchants looking for easy qualification. Unlike the commercial lending process with traditional banks, the Ascentium Capital process is not paperwork intensive. You can be qualified for a loan with as little as three of your most recent business bank statements. There's no need to provide reams of documents, such as financial statements and income tax returns.
- Merchants looking for a credit facility for their own customers and clients. Acentium Capital's Partner Financing (see description below) enables merchants to provide financing to their own clients and customers. The partnership enables merchants to offer a seamless financing option as part of their own operations.
- Auto Sales companies and nonprofit organizations. These businesses have been virtually shut out of the working capital loan space. Ascentium Capital will make loans available to businesses in either sector, as long as they meet the lender's credit policy.
- Businesses in other industries excluded by lenders. Ascentium Capital doesn't have a list of prohibited industries. There's an excellent chance they'll make a loan to your business as long as you meet their credit policy.
- Franchise operators. Ascentium Capital has financing programs available for franchisees (see description below). They provide financing to expand your business, purchase equipment, add new technology, and remodeling or reimaging of your business.
Ascentium Capital Equipment Financing and Leasing
Ascentium Capital offers customized equipment financing and leasing to match the unique business needs and goals of your company. Programs are available to acquire new equipment, technology, and commercial vehicles, as well as to provide working capital. You can apply in minutes, and get quick financing.
They can create a payment structure that works for you. For example, two possible payment arrangements include:
- Full payments delayed until the equipment begins generating revenue
- Terms extending to as long as 84 months
Benefits of Ascentium Capital's equipment financing and leasing programs include:
- Financing for up to $1.5 million for new and used equipment and technology
- For financing of up to $250,000, a simple one-page application is all that's required
- Instant credit decisions
- Low- to no- upfront costs - deferred payments and up to 100% financing options are available
- Pre-approvals provided - merchants can know what they can afford to spend when shopping for equipment and technology
Ascentium Capital also offers all-inclusive financing. Since the cost of new equipment goes beyond base price, other costs can be included in the financing. That includes shipping, taxes and other expenses. Financing these additional costs enables merchants to avoid out-of-pocket payments upfront.
Ascentium Capital Partner Financing
If your product line includes the kinds of transactions that require financing, Ascentium Capital Partner Financing will enable you to give your clients access to the financing and leasing options they need to purchase your products. You will work in partnership with Ascentium Capital, enabling you to offer a streamlined finance platform for your clients and customers. It will give your business an advantage against competitors who don't have the same arrangement.
Ascentium Capital Partner Financing will enable you to offer fast, flexible business leasing and financing options to your customers. That will increase revenue, and improve your closing ratios.
With the Ascentium Capital Partner Financing program you can give your customers and clients access to the following benefits:
- Financing and leasing facility of up to $1.5 million
- Single-page applications for loans and leases up to $250,000
- Terms up to 84 months
- Flexible repayment options
- Potential tax savings
- Instant credit decisions
As a participating merchant, your business will have the following benefits from Partner Financing:
- 100% pre-funding potential - As a participating merchant, you'll be paid in full upon purchase by your client or customer.
- CreditPlus - Informs you when your customers or clients are approved for a higher financing amount.
- iCalc Quoting - Provides online quick quotes and proposals so that you can close your sales faster.
- MyAscentium - Ascentium Capital's online portal, with finance tools, program reporting and in-depth portfolio details.
- Support Material - Ascentium Capital will provide you with sales and promotional materials to promote your business initiatives.
- Financing training - This gives you the ability to determine how involved you'd like to be in the finance process.
Ascentium Capital Franchise & QSR
Ascentium Capital has more than 20 years of franchise financing experience. They provide financing solutions to help franchisees grow their business.
Financing is available for the purchase of the following equipment:
- POS systems
- Furniture and fixtures
- Industry equipment
- Signage and canopies
- IT hardware and software
- Expansions and acquisitions
- Remodels and reimaging
- Leasehold improvements
- New and used equipment
- Technology acquisitions
Ascentium Capital Franchise & QSR provides fast, flexible franchise financing for franchise locations. Terms include:
- Flexible financing of up to $1.5 million
- Equipment financing for new or used equipment
- Funds for financing, leasing and working capital
- One-page application for financing of up to $250,000
- Credit decisions in as little as two hours
- Pre-approval and deferred payment options
- 100% financing to bundle associated costs
19 User Reviews
May 4, 2016 9:57 AM
This lender-cum-fraud just started business with me without my consent. i was applying for merchant industry for some online payment processing services I needed to offer to my customers. I had no idea that ascentium had strong associations with merchant industry and even if they did, why would that be bothersome? i just wanted some services from the company, that is all. I was going about my business and suddenly these people are on my account paperwork. I was surprised and thought it would be some mistake, so i called these people and asked politely why this was happening and they were very nice about it... saying it was nothing and it would be charge me anything.. after all the friendly assurances, i thought i should just let it be. it said they would offer their machines if i opened a store. i never did but these people kept charging my account and when i complained, got a callous and very rude response. they did not even return the entire amount. because of all this, i am in such a mess. they keep sending me these terminal machines saying they would be good for my store. what the heck???? what store? and why would i need a terminal in this technologically advanced era? such is their greed for other people's money that they were not only accepting their mistake but kept sending the damn machines!! my credit is getting bad and I am in such a mess because of these frauds!! looking for a lawyer to sue these people and demand a compensation for my money and time!!Reply
Sep 6, 2018 10:10 AM
Lightning fast service!!!! i am an owner operator in TX and needed an instant funding to get ELDs installed in my new trucks and got just that in 24 hours!! Unbelievable! The best lender ever!Reply
Oct 1, 2018 3:24 PM
i have a small fleet of transport vans and cars and i m looking for working capital for a quick cash flow and also to run a couple of business operations. came across ascentum profile and read the reviews. i have a couple of lenders in mind. read your review and you are in almost the same business as me. would appreciate your honest opinion if ascentium would be the right choice? thx.Reply
Oct 4, 2018 9:25 AM
Definitely! You have come to the right place. I could vouch for these people personally. I had chosen Keeptruckin for my ELDs and it worked out really well for me. For a quick cash flow and other business operations like payroll, maintenance, buying inventory and whatever, you could apply for their working capital loan. If you are looking to get equipment, they offer the best equipment financing loans. I am using one. Got $150,000 for 14 months at 1.23 rate. Might seem too much but trust me other lenders are worse. This is the best deal!Reply
Oct 5, 2018 1:34 PM
hmm.. i will give these guys and call and see what they have to offer. thnx a lot!Reply
Nov 19, 2018 7:17 PM
just to thank you for recommending these people! definitely a great lender with a great team of customer reps! i am on my way to getting a 120K dollars of working capital at 1.21!! i will be receiving the capital in a day or two. really grateful!Reply
Sep 28, 2018 4:09 AM
Texas company. Does financing for machinery and loan cash. Used them to lease a bridge saw and got 25,000 in cash. Quick process start to finish. Good peopleReply
Nov 2, 2018 5:35 PM
I was planning to open a KFC franchise in downtown Dallas while successfully running a small Chinese restaurant nearby. Everything was planned and I could manage most of the capital through the savings I had kept from income I got through my 4 years old restaurant. After a lot of brainstorming and planning, I realized that even though I could pay the Franchise fee and manage other operations to start my KFC franchise but it wouldn’t be wise to spend all my savings like that. A friend suggested me to get franchise loan from Ascentium. That was the plan. But later, I went for their working capital and dealt with the franchise fee and everything myself. Ascentium is a smart lender that offers “immediate” financing. In the beginning, they were reluctant giving a working capital to an entirely new franchise but after a little documentation and verifications on their part and guarantees on my part, the deal was sealed! I wouldn’t say the financing was too immediate but still fast enough. I am satisfied with their service!Reply
Sep 14, 2019 4:49 AM
would never do business with these thieves again! made me pay for mistakes on their part! were too late to process my request and then they charged me for late repayment and all that crap! these people are just sloths who will have you pay for their own negligence! worst!!!Reply
Oct 4, 2019 5:26 PM
O my! I am really sorry but my experience has been quiet good, especially in terms of their customer service, i’d give them a 5 for that. yes, there were times when they sucked but overall not that bad! I got the payment late and then the merchant I was buying from had some disagreement with these people too but it was all sorted out in the end. I was glad how the guy i was working with from ascentium took over and sorted out the problem with the merchant and got the payment through. I would wish for better but oh well, it’s almost everywhere, I guess.Reply
Nov 1, 2019 10:27 AM
not everywhere, trust you me! i am now dealing with marlin and they are so good, these thieves should learn from them. there customer service is fast and stellar and m not saying they dont make no mistakes. they do but they own their crap instead of penalizing the customer with late payments and other shit! done with these people!Reply
Sep 19, 2019 5:06 PM
Awesome service!just got a truck on zero down!got funded for the equipment within a couple of days.i dont see any lender doing that for their customer.will definietly look upto these people again!Reply
Consuelo Ruecker MD
Nov 15, 2019 5:53 PM
I was interested in expanding my interior decoration business... you know expand it to a city more or two... Definitely couldn’t do it on my own ! asked a friend and he referred ascentium capital. i had the best experience with these people... very honest and friendly in their dealings and above all, dont feel like a ripoff... no robbing in the name of origination fees and no shading terms and this and that. everything is smooth and transparent..... loving this experience. soon my interior decorating services will be available in Austin and Jacksonville. so excited !!Reply
Mar 6, 2020 12:31 AM
Got their working capital some 6 years back and it was a pretty good experience. just need equipment financing recently and turned to Ascentium Capital again and must say, dont regret it a bit !!!Reply
May 13, 2020 2:43 AM
Planning to acquire some new software upgrades to my firm’s network. The deal with the provider is done and I am looking to get my financing from ascentium capital soon. Looks like a pretty good deal so far and everything is smooth! Let’s see...Reply
Sep 18, 2020 9:42 AM
I run a small retail business for beauty products and some over-the-counter medicines as well. I needed some backing to run daily operations of my business and Ascentium Capital served the purpose. They only required bank statements for three months, it was sufficient. There were no origination fee as well which was a big relief for me. I talked to a representative there and in just a couple of days, my loan request was approved and I received my working capital in my account within 24 hours of my approval. I was totally impressed with their work ethic, the patience that they showed when I asked too many questions and lastly with how fast I got the money. They kept every promise that they made and for somebody who had been doing everything on their own and never borrowed money so far, it is definitely a great start based on trust and confidence! Thank you!Reply
Dec 11, 2020 12:48 PM
I was looking to renovate my software house and checked a couple of furniture providers but it was just too expensive. Resorted to looking for equipment financing and learnt about a couple of lenders who provided such loans. Ascentium was one of them and I am glad I finalized on these people as they not only offered me flexible terms and good rates but also offered their advice on the matter. They told to couple the financing with used equipment, this way I could save as well and never had I been so happy and satisfied with a suggestion. I must say these people actually consider your business as their own!Reply
Jan 8, 2021 11:37 PM
No origination fee, upfront repayment amount, as much as 3 months of bank statements required!!! And I got the loan within 24 hours of the approval! Good company!Reply
Apr 16, 2021 8:42 AM
100% recommended! Great lender!Reply