Vina Castillo, Kew and Willow Books, Queens, NY >
Small Business Loans / Microloans Up to $50K
Ascendus looks at the whole picture when deciding to lend, rather than focusing solely on credit, making us more flexible than other lenders. That said, not everyone is ready to take out financing for their business.
requirements for a Small Business Loan:
- Business has been generating revenue for at least 1 year
- FICO score of 575 or higher. In some cases a cosigner to add strength to your application is required
- No (0) or very new credit
- No more than $3,000 in unpaid / past due debt
- Any bankruptcy must be discharged for more than 1 year
- Any foreclosure must be complete for more than 2 years
- Home-based business is a start-up under 6 months and you have a second source of income that can support you while you launch
Learn more in our FAQs.
For small business owners who need money to start or grow their business, Ascendus offers loans from $1,000 – $250,000.
If you’re looking for a loan above $50,000, check out our SBA Community Advantage Loan.
If you’re in need of financing to start your business, read about our startup loans or view our resources
what can you use the loan for?
These loans can be used for working capital, to purchase inventory, for equipment and other hard assets, for short-term business training, for promotions and advertising, to retire existing business debt, or for the purchase of an existing business.
- Adapting your business model due to COVID-19
- Purchasing inventory
- Buying or leasing equipment
- Professional expenses
- Hiring employees
- Financing any of the many expenses involved with being an entrepreneur
In addition to the loan, being a non-profit lender we also provide training and education. If you’re in need of financing to start your business, contact us or apply online.
It’s great that our business can be a platform for people to be supportive and connect with each other.
The experience of working with Ascendus was awesome, particularly the excitement they showed in my progress and in my business.
I’ve had customers for 15 years, since I started out of my home. People keep coming back and many have become my good friends. I come to the store always happy.
