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.
loans to small
Our work is focused on addressing systemic challenges to entrepreneurs of color and women.
White families hold 8x more wealth than Latinx families and 10x more wealth than Black families.
At every level, Black and Latinx individuals, women, and immigrants have been excluded for decades from critical financial resources to support economic mobility.
57% of Black businesses and 49% of Latinx businesses qualify as “at-risk” or “distressed” compared to 27% of their white counterparts.
Small businesses in communities of color are approved for COVID relief funding at half the rate of white communities.