NEW YORK, NY — June 1, 2026
Ascendus, a mission-driven nonprofit Community Development Financial Institution (CDFI), has been awarded a $115,000 grant from the Opportunity Finance Network (OFN) Capital Solutions Accelerator program. The funding will support the launch of Ascendus’s Graduation and Capital Velocity Pilot Program, a structured pathway designed to help small business owners graduate from CDFI lending to traditional bank financing, doubling capital velocity and strengthening the broader CDFI ecosystem.
The grant represents a significant milestone in Ascendus’s strategy to move beyond access to capital and into full Financial Ascension for the entrepreneurs it serves. By creating a formalized graduation pathway via loan refinancing, Ascendus aims to free up capital for new borrowers while positioning clients for long-term financial independence within the traditional banking system.
Ascendus is also among three finalists competing for an additional $25,000 award, with a representative traveling to Austin, TX to present the program to OFN’s selection committee.
“When we rebranded in 2020, we embarked on a bold vision of creating financial ascension, not merely inclusion, for all. Today, with the success of our Get Ready program, our core lending work, and now this graduation-to-bank effort, we have made financial ascension a reality for many small business owners. We are creating change, together.” – Paul Quintero, Chief Executive Officer, Ascendus
Building on this momentum, Ascendus will participate in OFN’s upcoming annual Small Business Finance Forum (SBFF) in Austin, TX, from June 10-12, 2026. During the forum, Andrea Ierace, SVP of Lending, will present the Graduation and Capital Velocity Pilot in the official OFN Pitch Competition. The presentation will serve as a key opportunity to gather critical feedback from industry evaluators and build strategic connections to support the continued development of this financial solution.
The OFN Capital Solutions Accelerator grant reinforces Ascendus’s commitment to building a full-circle model of small business support: from pre-loan readiness coaching to active lending to graduation into the mainstream financial system. This approach not only expands access to capital for underserved entrepreneurs but also increases the long-term sustainability and impact of mission-driven lenders like Ascendus.
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About Ascendus
Ascendus is a mission-driven nonprofit Community Development Financial Institution (CDFI) with more than 30 years of experience providing capital and coaching to underserved entrepreneurs. To date, Ascendus has delivered over $435 million in small business loans and served more than 62,000 entrepreneurs across the United States. Ascendus believes that access to capital, paired with hands-on coaching, is the foundation of Financial Ascension for small business owners and their communities. Learn more at ascendus.org.
About Opportunity Finance Network (OFN)
About Opportunity Finance Network (OFN)
Opportunity Finance Network (OFN), based in Washington, D.C., is a leading national network of nearly 500 community development financial institutions (CDFIs). For nearly 40 years, OFN has served as a trusted intermediary between community development loan funds, banks, venture capital funds, and credit unions, and public and private sector partners, including foundations, corporations, banks, and government agencies. OFN helps capital flow where it counts by enabling partners to invest in CDFIs to catalyze change and create economic opportunities for people and places traditional finance doesn’t reach. Learn more at ofn.org.
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Media Contact
Gustavo Banchero
Director of Communications, Ascendus
[email protected] · 646.506.4790
ascendus.org · 260 Madison Avenue, 8th Floor, New York, NY 10016
