Small Business Resources: Edition #4 for Black, Latino, and AAPI-owned Businesses

According to recent studies, Black-owned businesses make up only 2.5% of all small businesses in the U.S., even though they make up 15% of the population. This is a missed opportunity for economic growth, as businesses of color are significant drivers of job creation and economic expansion. Similarly, Latino-owned businesses are the fastest-growing segment in recovery from the COVID pandemic. And yet, these businesses often face significant barriers to success due to a lack of access to capital.

32% of Black-owned businesses are in the industries of healthcare and social assistance, according to a recent report from Brookings. These businesses are often community-centric, offering more services in under-represented communities and employing more people, especially populations that are typically under-employed. This helps create a sense of pride and ownership within the community while also providing much-needed services.

This May, let’s celebrate businesses of color and support their success with these business resources. By helping Black and Latino-owned organizations with the resources and financial support they need to grow, we can create jobs, expand the economy, and build a brighter future for everyone.

If you, or a business you know, would like to explore loan offers from Ascendus, please reach out to one of our loan officers to begin the process, here.

Asian Pacific American Heritage Month

May is Asian American and Pacific Islander (AAPI) Heritage Month and a time to celebrate the heritage and accomplishments of the AAPI community in the United States. The AAPI community is a cornerstone of the US economy, with nearly 10% of businesses owned by Asian American entrepreneurs. This number is also on the rise, with nearly a 24% growth between 2007 and 2012. If you are or know of, an AAPI-owned business looking for resources, forward them this email and encourage them to contact Ascendus.

excellent flowers

Ascendus is proud to work with Excellent Flowers, a company with over 15 years of experience, and headquartered in Miami, Florida. Excellent Flowers provides a wide variety of fresh-cut flowers, such as roses, hydrangeas, alstroemeria, garden roses, orchids, peonies, greens, and many more. Aside from fresh-cut flowers, they also produce their own line of preserved roses. This Latino-owned business offers great farm-direct prices, promotions, and the availability of a wide variety of flowers.

westbury florist

Westbury Florist is a full-service florist in Westbury, NY, dedicated to upholding the values of inclusion, adaptability, empathy, integrity, passion, and dedication. Throughout the pandemic, owner Lia Di Angelo Allen provided beauty in a time of darkness and helped her clients through times of loss. Learn more about Lia’s journey as part of our Stories of Ascension series.


Anthology is a small, women-owned floral studio and styling boutique for social and corporate events. They are passionate about design, from the smallest detail to the grandest scheme, and believe that styling flowers & events are an exciting and shared creative process with each client. With every arrangement, Anthology displays the beauty of nature and their admiration for artful design and history.

The Southern Opportunity And Resilience (SOAR) Fund provides 4% loans up to $100,000 to small businesses and nonprofits to navigate and rebuild from COVID-19. Read More

Small Business Flex Fund

Supported by the Washington State Department of Commerce, the Small Business Flex Fund is designed to help small business owners and nonprofits access funds at a competitive interest rate to bounce back stronger than ever.
Read More

0% loans up to $50,000 with only $25 monthly payments for the first 12 months for restaurants dedicated to creating safe and equitable work environments for their employees. Read More

Rideshare Business Term Loan

Loans up to $10,000 in financing for rideshare businesses offered at 9.99%. Qualified Businesses will be in Connecticut, Massachusetts, Maine, New Hampshire, New Jersey, New York, or Rhode Island. Read More

Childcare Business Development

Ascendus is now offering loans up to $50,000 for licensed childcare businesses offered at a 9.99% interest rate. Qualified Businesses can be located nationwide, excluding Vermont. If you have been in business for more than 3 years, you can access up to $20,000 in fast-track financing at the same interest rate within 48 hours. No paperwork is required to apply. Learn more about this program here.

TrustPlus- Personal Finance Coaching where and when you need it

One-on-one personal finance coaching is available to you through our partnership with TrustPlus, a national nonprofit with three decades of experience supporting clients on paths to financial health. Read More

Looking for more business resources? Check out our curation of resources designed to help minority-owned businesses flourish here.

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