Kymme, Davis-Williams Bushwick Grind, Brooklyn NY >
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.
requirements for the Entrepreneurs of Color Fund
- Businesses must be in: NYC (Brooklyn, Manhattan, Queens, Bronx, Staten Island)
- 51% owned by entrepreneurs of color
- Business must be at least 2 years in operations
- Less than $5MM in annual revenue
- Legal status is permanent resident and U.S. citizens
- FICO Minimum: 600
terms
- For equipment, leasehold improvements, or working capital
- $75,000 – $250,000
- Interest Rate: 9.99%, fully amortized over 72 months
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.
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.
