Debra Torres, Debra Torres LLC, Miami, FL >
Entrepreneurs build communities, improving their lives as well as those around them. In fact, small businesses employ 6 out of 10 people and account for 75% of all new jobs created in the US.
Hardworking and innovative, these small business owners are passionate about the services they provide and the neighborhoods they serve, yet one third rely on credit for financing. At Ascendus, we’re committed to empowering these local heroes with the loans and resources they need to compete and thrive.
small businesses supported, nationwide
dollars in loan capital provided
entrepreneurs of color
Our work is focused on addressing systemic challenges to entrepreneurs of color and women.
54% of Black and 41% of Latinx individuals have low to no credit scores, compared to 37% of their white counterparts – impacting their ability to access credit.
Only 26% of Black business owners and 32% of Latinx business owners receive the full amount of financing sought, compared to 54% for their white counterparts – impacting their ability to launch and grow.
92% of small business owners say mentorship is invaluable to small business success, however less than 40% of Black owned businesses and less than 34% of Latinx owned businesses have access to mentorship – impacting their financial health and ability to stay open.