Vina Castillo, Kew and Willow Books, Queens, NY >
Business Term Loan
Small business loans and microloans are offered up to $150,000. Interest rates currently range from 4.00% – 9.99%*. Qualified businesses will be located nationwide, except Vermont..
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. Be sure to check out our COVID relief programs like the Southern Opportunity and Resilience (SOAR) Fund and the Washington Flex Fund!
*Interest rates and maximum loan amounts vary by state.
requirements for a Small Business Loan:
- Business has been generating revenue for at least 6 months
- 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
Learn more in our FAQs.
For small business owners who need money to grow their business, Ascendus offers loans from $500 – $150,000.
If you’re looking for a loan above $150,000, 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.
The process was easy and very convenient, it was perfect.
The experience of working with Ascendus was awesome, particularly the excitement they showed in my progress and in my business.
