Folasade Tyler, Omo Sade Skincare >

Entrepreneurs of Color Fund

This program will support a multi-organization approach to increasing access to capital and education for entrepreneurs of color.  Ascendus, will provide the services to achieve three key programmatic goal:  create a comprehensive ecosystem of services for entrepreneurs of color, to provide technical assistance and educational support, to increase access to capital for entrepreneurs of color.

loans $5,000 - $49,999

  • Interest Rate: 9.99%, fully amortized over 72 months
  • FICO Minimum: 575 or no credit score
  • Business must be at least 6 months
  • Eligible to small business owners in any state, excluding Vermont
  • 51% owned by entrepreneurs of color
  • Less than $5MM in annual revenue
  • Legal status is permanent resident and U.S. citizens
  • For equipment, leasehold improvements, or working capital

loans $50,000 - $250,000

  • Interest Rate: 8.99%, fully amortized over 72 months
  • FICO Minimum: 600
  • Business must be at least 2 years in operations
  • Eligible to small business owners in any state, excluding Vermont
  • 51% owned by entrepreneurs of color
  • Less than $5MM in annual revenue
  • Legal status is permanent resident and U.S. citizens
  • For equipment, leasehold improvements, or working capital

“I couldn’t have done this without the Ascendus loan. Every time I meet a small business owner, I tell them to visit Ascendus.” — Claudia Romero, Pega Grill, Miami FL

 

Read Claudia’s Story

Ascendus is a nonprofit lender with over 30 years of experience serving entrepreneurs like you. When you contact Ascendus, you’ll meet our experienced staff who will work with you one-on-one to find the best business lending solution for you. We work with a diverse group of business owners and provide a solution when traditional lenders cannot.

Since my first loan with Ascendus, I have increased my staff, the number of children I can serve, and raised my credit score by 90 points.

The Ascendus loan kept me from going bankrupt. Through the loan I paid my employees, my rent, my bills, and bought the inventory to keep my restaurant open.

Through the Ascendus loan, I became the owner of my own clinic. Now I can treat whoever I want, whenever I want, in a space that is my own.

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