Inoussa Campaore, Zaca Café LLC, Brooklyn, NY >
Whether you are looking to take your current business to the next level or launch the next big idea, we’re here to help you fund your path to success.
For small business owners who need money to grow their business, Ascendus offers loans from $500 – $50,000. Qualified businesses will be located nationwide, except Vermont.
Supported by the Connecticut Department of Economic & Community Development, the Connecticut Small Business Boost Fund links Connecticut small businesses and nonprofits to the financial support they need to thrive.
If you have been operating for more than 3 years, access up to $25,000 in fast track financing at the same interest rate within 48 hours. No paperwork required to apply!
Loans up to $15,000 in fast track financing for rideshare businesses offered at 13.99%. Qualified Businesses will be located in Connecticut, Massachusetts, Maine, New Hampshire, New Jersey, New York, or Rhode Island.
Loans up to $250,000 s offered at 9.99% for Entrepreneurs of Color located in New York City.
Access a line of credit up to $25,000 in fast track financing at 13.99%. Minimum paperwork required to apply!
*only available in select states and counties
No FICO minimum! This line of credit product is designed for Black or African American business owners, located in FL, NY, NJ (city of Newark excluded), CT, MA, ME, NH, RI, MI County (Wayne County only), GA: greater Atlanta, and the city of Atlanta ready to improve their credit and grow their business. The Get Ready Line of Credit starts at $500 for the first 3 months and grows to $5,000 with good repayment and completion of a credit action plan. Offered at 13.99%. Free tailored credit coaching for all current clients that are interested in our Get Ready Loan product. Training sessions will include credit building, debt management tailored to long- and short-term goals, prioritizing debt repayment, budget assessment, and assessment for current credit building programs.
Ascendus—in partnership with Resilient—is proud to be the first CDFI in the U.S. to provide its clients insurance products that we pay for to help them protect their families’ finances: a $50,000 Term Life insurance coverage and a $50,000 AD&D (accidental death and dismemberment) coverage.
I started off with a food truck. Now I have two restaurants and another on the way. All because Ascendus gave me that first loan.
Because of Ascendus we were able to continue operations. Ascendus gave us an affordable interest rate, allowed us to offer competitive pay packages, and overall, helped us grow our business.
Ascendus gave me resources, helped me build credit, and helped me prove that I could pay back a loan.
Questions? We’re here to help. We want to make getting a loan from Ascendus as easy as possible. So, we want to share the top questions we get asked and answer them for you.
Credit is just one of many factors that we look at when we work with business owners. If your credit isn’t well established or damaged, we can work to find strengths in your business or finances to make the loan possible. In some cases, we have firm requirements such as amount in past due debt, bankruptcies and credit score minimums. So please check our loan requirements to see if we are a good fit for you.
Local businesses choose to work with us for more reasons than just access to loans. Our staff will go the extra mile for you throughout your application process, the life of your loan and beyond. We can help you connect with peers, local organizations, banks and more to provide as many opportunities for growth as possible. You can call us any time and connect with a live person. And of course, you can access our business resource library anytime.
Ascendus is a nonprofit, community organization dedicated solely to helping small business owners succeed and communities thrive. We are often able to lend to small business owners who have trouble finding loans elsewhere thanks to our smaller loan sizes, a process that looks at more than just a credit score, and terms that are designed to best meet your needs.
Ascendus works with businesses in a variety of different industries such as construction, transportation, retail sales, landscaping, restaurants, professional services and more.
Ineligible Industries: Real Estate, Adult Entertainment/Materials, Drug Paraphernalia, Distribution, Sale or Manufacturing of Firearms: Non-FDA Weight Loss Products, Traditional Lending Institutions, Alternative Lenders, Check Cashing, Factoring Organizations, Non-Bank Cash Advances, Pawn Shops, Non-Profit Organizations, Non-U.S. Companies, Collection Agencies, Currency Exchanges, Precious Metal Sales, Investment Opportunities, Gambling Establishments, Lotteries/Raffles, and pyramid or multilevel sales plans
Ascendus has worked with thousands of start-up businesses across the country. Startups need to have been in operations for a minimum of one year, and are required to have a partner verified business plan with a 12-month cash flow projection. View our partners here: https://www.ascendus.org/partner/
Once you submit your online application, we’ll be in touch within 2 business days to let you know if you’re a good fit for Ascendus. If you are, you’ll be put in touch with a lending team member who will work with you one-on-one to assemble the strongest loan application possible. This will include documentation to confirm some of the information submitted in your application, as well as some other documents to help us understand your specific business situation as best we can.
If you don’t qualify for a loan with us at this time, we’ll give you the information you need to improve your business and financial situation so that you have an improved chance of qualifying on your next application. Typically, you’ll be eligible to reapply in three to six months.
When thinking about how much you should apply for, consider the following: Loan Use – What will I use the loan for specifically and do I know how much that costs? Monthly Payments – Will I be able to comfortably afford the monthly payments that will come with the loan? Click here to check out a monthly payment calculator.
If you want to calculate the monthly interest rate click here
Ascendus loans are always personally guaranteed. We never take your home as collateral but may ask for a cosigner or collateral such as a vehicle or piece of equipment to add strength to your application.
Have a question not addressed in our FAQ? Speak to our chatbot on the right or Contact Us for more information.
Our term loans range from $500 to $250,000. We’ll work closely with you to determine how much is needed to move your business in the right direction.
Your hard work and determination are valued at Ascendus. Our loan officers take the time to get to know you, accounting for strengths beyond just your credit score.
We’re in business to see you succeed. Our loans are fairly priced and flexible. Everything is laid out for you so it’s simple and easy to understand every step of the way.
Our online application is quick and easy and puts you on a faster track to getting you the funds you need. Once that’s complete, one of our loan experts will work with you one on one to craft a custom solution.