FOR IMMEDIATE RELEASE
Financial Assistance award funds a loan loss reserve grant, strengthening the nonprofit lender’s balance sheet and its capacity to serve small business owners nationwide.
NEW YORK, NY, September 29, 2026. Ascendus, a national nonprofit Community Development Financial Institution (CDFI), announced today that it has been awarded $1,031,000 in Financial Assistance from the CDFI Fund, a program of the U.S. Department of the Treasury. The award funds a loan loss reserve grant that strengthens Ascendus’s balance sheet and supports its ability to serve small business owners across the country.
A stronger loan loss reserve helps Ascendus manage the risk in its lending portfolio responsibly. Because funders and lenders review audited financial statements closely when making capital and grant decisions, a stronger balance sheet also helps Ascendus attract additional debt capital and grants going forward, supporting its ability to serve more small business owners and reinvest in its mission.
Since its founding in 1991, Ascendus has deployed more than $435 million in capital to more than 62,000 entrepreneurs across 49 states, supporting more than 162,000 jobs.
“This award strengthens our balance sheet by mitigating the impact of loan loss provision expense. A stronger balance sheet allows us to attract more debt capital and grants, because foundations study our audited financials when making large grant decisions. More debt capital and grants allow us to serve more clients and reinvest further in our mission.”
Paul Quintero, Chief Executive Officer, Ascendus
About Ascendus
Ascendus is a national nonprofit Community Development Financial Institution (CDFI) that has deployed more than $435 million in capital to more than 62,000 small business owners since 1991, supporting more than 162,000 jobs across 49 states. Ascendus pairs accessible capital, in loans from $500 to $100,000, with one-on-one financial coaching to help small business owners build toward financial ascension.
About the CDFI Fund
The Community Development Financial Institutions Fund (CDFI Fund) is part of the U.S. Department of the Treasury. It generates economic growth and opportunity by supporting mission-driven financial institutions with resources and programs that deploy federal dollars alongside private capital, helping certified CDFIs finance businesses, create jobs, and build homes in communities that lack access to financing.
Media contact
Gustavo Banchero, Director of Communications, Ascendus
[email protected]
