Paul Quintero
CEO
Ascendus
Dennis Lagueux
Board Chair
Ascendus
In 2017 and the beginning of 2018, we made investments for growth, planting the strategic seeds to harvest mission growth. This began with our five-year growth plan to grow our lending, scaling our reach to the least served populations. We also launched a cloud-based platform to improve productivity, thus better serving our clients’ needs. Finally, we redesigned our SBA Community Advantage program, improving turnaround time and positioning us for growth through 2020 and beyond.
In 2018, we deepened our mission impact with the launch of the Entrepreneurs of Color Fund program in July and the Childcare Provider Initiative in October. Through the Entrepreneurs of Color Fund, we supported nearly 100 minority entrepreneurs in the South Bronx with over $1 million in capital.
The Childcare Provider Initiative enabled us to provide $1.3 million to over 100 childcare providers, predominantly women of color in the South Bronx. These women were able to grow their businesses to create a triple social return within their communities through providing early childcare education, enabling parents to participate in the workforce, and providing local jobs.
At $14.8 million, our portfolio is the largest and healthiest it has been in a decade. Our loans are reaching entrepreneurs with limited access to capital and financial education, creating economic opportunity for our clients.
As our investments bear fruit, we continue to make enhancements for future mission momentum. This includes expanding our Childcare Provider Initiative to other East Coast markets, growing our SBA Community Advantage program, and launching a campaign to raise debt capital to sustain the expected growth through 2020. The mission acorns planted today will become a tall forest of impact tomorrow.
On behalf of Ascendus, we want to thank you for your support of our mission. Your support literally makes all our work possible and together, we will continue growing our mission skyward.
Yours in continuously reaching,
PAUL QUINTERO
CEO
Ascendus
DENNIS LAGUEUX
Board Chair
Ascendus
Hear Elizabeth and Olean tell their story:
In 2018, we served a greater percentage of minorities, immigrants, and women by helping them start, stabilize, and expand their businesses.
We served small business owners in 41 states from three crucial markets along the East Coast as well as remotely throughout the country.
Ascendus is guided by six core values that define our mission:
We are innovators; we continually improve ourselves and our world. We take risks to do so.
We give 100% at all times. We are committed to Ascendus, our mission and our clients.
We walk in others’ shoes. We know that true understanding must occur at an emotional and intellectual level.