Small business term loan
A business term loan of up to $100,000
Structured financing with predictable payments over up to 60 months, for equipment, renovations, working capital and other investments in your business’s growth.
- Up to $100,000
- 7.75%–15.99% rate
- Up to 60 months
The whole deal, upfront
- Loan amount
- Up to $100,000
- Interest rate
- 7.75%–15.99%
- Term
- Up to 60 months
- Best for
- Long-term investments: equipment, renovations, working capital, refinancing, vehicles
- Fees
- $200 application · 5% closing · $30 direct deposit · $80 UCC filing
- Cost to apply
- $0 upfront. Fees apply only if approved and disbursed
Requirements
Am I ready for the Business Term Loan?
You are ready when you meet the requirements below. The main ones: your business has been registered and earning consistent revenue for at least 6 months, your FICO score is 575 or higher, you have $3,000 or less in unpaid or past-due debt, and a local partner referred you.
What you need
- A business registered and operating for at least 6 months, in any state except Vermont
- Consistent revenue for at least 6 months
- A FICO score of 575 or higher
- $3,000 or less in unpaid or past-due debt
- Any bankruptcy discharged more than 1 year ago for loans up to $25,000, or more than 2 years ago for loans up to $50,000. For larger amounts, ask us.
- Any foreclosure completed more than 2 years ago
- A referral from a local partner, such as an SBDC, a SCORE chapter, a bank or a community organization
A cosigner may be required in some cases, and some industries aren’t eligible. Other requirements may apply.
Check your readiness
A few yes-or-no questions. It doesn’t affect your credit, your answers aren’t saved, and we only see anonymous totals.
This check is not a loan application, a pre-approval or a credit decision, and it does not affect your credit. Your answers aren’t saved, and we only see anonymous totals. Other requirements may apply. Loan terms and conditions may change based on program guidelines. We’ll confirm final details during the review process.
How it works
What can I use the Business Term Loan for?
Investments that support your business’s long-term stability and growth, repaid in predictable payments over up to 60 months.
| What you need to pay for | Better fit |
|---|---|
| Working capital: inventory, salaries, marketing, contractors and supplies | Business Term Loan |
| Equipment and fixtures | Business Term Loan |
| Debt refinancing | Business Term Loan |
| Renovations | Business Term Loan |
| Vehicle purchases | Business Term Loan |
| Seasonal cash flow needs | Business Line of Credit |
| Unexpected business emergencies | Business Line of Credit |
Costs
What does the Business Term Loan cost?
An interest rate of 7.75% to 15.99%, plus fees that are included in the loan and apply only if it is approved and disbursed. Applying costs nothing out of pocket.
| Cost | Amount | When it applies |
|---|---|---|
| Interest rate | 7.75%–15.99% | Final terms depend on the program and are confirmed during the review process |
| Application fee | $200 | Only if approved and disbursed; included in the loan |
| Closing fee | 5% | Only if approved and disbursed; included in the loan |
| Direct deposit fee | $30 | Only if approved and disbursed; included in the loan |
| UCC filing fee | $80 | Only if approved and disbursed; included in the loan |
| State stamp tax (Florida only) | $0.35 per $100 borrowed | Florida loans only, on each $100 or portion thereof; included in the loan |
| Cost to apply online | $0 | No out-of-pocket costs while you apply |
Ready to move up?
Check your readiness in a few questions, or read the answers to common questions. You can also call us.
Client stories
Who uses an Ascendus term loan?
Small business owners like Logan, Rejane and John, in their own words.
-
Term loan
Grew his team without touching his savings
Logan ShieldFixinhumans · New York, NY
Ascendus came at the right time. I had reached the point where I was in a stalemate. I was stable, but I didn’t have the funding to grow and try new things.
-
Term loan
Improved her skincare studio after banks said no
Rejane D Cunha-CawthronRJ Aesthetics · North Reading, MA
You don’t have to be perfect to start, but you must start to grow
-
Term loan
Two loans that opened two taquerias
John SchallEl Jefe’s Taquería · Cambridge, MA
You guys were there for me during the times of need, and I will never forget that.
Questions
Questions about the Business Term Loan
What is the Ascendus Business Term Loan?
It is a business loan of up to $100,000 at 7.75% to 15.99%, repaid in predictable payments over up to 60 months, for investments in your business’s long-term stability and growth. We are a nonprofit Community Development Financial Institution (CDFI) and have lent to small business owners since 1991.
How much does the term loan cost?
The interest rate is 7.75% to 15.99%. The fees are a $200 application fee, a 5% closing fee, a $30 direct deposit fee and an $80 UCC filing fee, plus, in Florida only, a state stamp tax of $0.35 per $100 borrowed. They are included in the loan and apply only if it is approved and disbursed, so there are no out-of-pocket costs while you apply.
Who can get an Ascendus term loan?
Businesses in any state except Vermont that have been registered and earning consistent revenue for at least 6 months, with a FICO score of 575 or higher and $3,000 or less in unpaid or past-due debt. Any bankruptcy must have been discharged more than 1 year ago for loans up to $25,000, or more than 2 years ago for loans up to $50,000, and any foreclosure completed more than 2 years ago. Newer businesses can qualify once they meet these requirements. You also need a referral from a local partner. Other requirements may apply.
Why do I need a referral from a local partner?
A local partner, such as a Small Business Development Center (SBDC), a SCORE chapter, a bank or a community organization, helps you prepare a stronger application. Clients who take this step are typically better prepared for the loan process. When the application asks “How did you hear about us?”, write your partner’s name.
Do I need collateral for a term loan?
Our loans are always personally guaranteed. We never take your home as collateral, but we may ask for a cosigner or for collateral such as a vehicle or a piece of equipment to strengthen your application.
How soon will I hear back after I apply?
Within 2 business days of your online application, we’ll let you know if you’re a good fit. If you are, a lending team member works with you one-on-one to assemble the strongest application possible.
I already have a loan with Ascendus. How do I get another one?
Contact your Loan Consultant rather than starting a new online application. If you don’t have their contact at hand, call our Loan Service Center at (866) 245-0783, option 3, or email [email protected].
What if I don’t qualify yet?
We’ll give you the information you need to improve your business and financial situation, and you can typically reapply in three to six months. If your credit score is what stands in the way, the Get Ready Program has no minimum credit score and runs in 48 counties in New York, New Jersey, Massachusetts, Georgia and Florida.
Other requirements may apply. Loan terms and conditions may change based on program guidelines. We’ll confirm final details during the review process. We are a 501(c)(3) nonprofit organization and an equal opportunity lender.
Our impact · Since 1991
Capital that helps small businesses move up.
Figures as of December 2025. Sources: Ascendus Annual Report 2025, Ascendus lending data and the Ascendus 2026 brochure.
- Capital deployed
- $435M+
- Entrepreneurs served
- 62,000+
- States served
- 49
- Years of mission
- 35+