Thirty years ago, in a world where the concept of Community Development Financial Institutions (CDFIs) was still emerging, Carmen began her remarkable journey with Ascendus. It was 1994, and Carmen’s story started in Williamsburg, Brooklyn—a neighborhood marked by both challenges and opportunity.

Today, Carmen is our Director of Loan Service & Collections, but her journey has always been about much more than a title. Over the years, she has been bold, kind, and unwavering in her commitment. She has embraced change while staying true to her values—passion, resilience, and, above all, love.

Carmen’s story is not just about her growth; it’s about transforming the lives of small business owners. She has led with compassion, proving that real change starts with empathy. As we honor her 30-year legacy, we celebrate not just Carmen, but the heart of Ascendus that she has shaped.

To learn more about Carmen’s inspiring journey, we sat down with her for a conversation about her experiences, motivations, and hopes for the future. Here is Carmen, in her own words.

Q: Carmen, how did your journey at Ascendus begin?

A: It all started in 1994, quite by chance. I found out about Ascendus—back then known as Acción—through The Greenline, a local newspaper. They were talking about small business loans, something that was practically unheard of in New York at the time. I remember thinking, “Who are these people, and what are they trying to do?” I was intrigued, so I went to find out more. That curiosity turned into a lifelong commitment. I got hired, and I’ve been here ever since!

“At that time, we were just a tiny team, running all over the city putting up ads and holding orientations. The loans were small—between $500 and $1,500—but we believed in people, and they believed in us. That’s how it all started.”

Q: What was it like helping those first clients?

A: It was amazing, really. Our very first client was Uvalda Alvarado. She was going through a lot—a divorce, raising her kids, and trying to make her small food business work. She started out with the smallest loan we offered, and she worked so hard. I saw her go from renting a little space, to expanding to a food truck, and then to two full-blown restaurants. Watching her grow her business against all odds was incredibly inspiring.

Whenever life throws me a curveball, I think of Uvalda. Her story is a reminder that perseverance and hard work can overcome anything. That’s what Ascendus is all about—helping people rise even when the world feels stacked against them.

Q: How did your upbringing influence your work at Ascendus?

A: Growing up in Williamsburg, Brooklyn, I saw firsthand how hard it was to run a small business when the odds weren’t in your favor. My father owned a small grocery store. He worked so hard—walking miles through snow to get to work because he couldn’t afford the bus fare. My parents did everything they could to keep us fed and safe, but it wasn’t easy. My dad faced barriers accessing loans and had to turn to loan sharks just to keep his business running. Seeing his struggle shaped who I am.

I remember thinking, “If only there was someone to help him.” When I found Ascendus, it felt like I finally had the chance to be that someone for other families—to give them a better option, a fairer shot.

Q: What makes Ascendus different from other financial institutions?

A: I think what makes us different is our focus on the person, not just the numbers. When people come to us, they aren’t just getting a loan—they’re getting a partner. We understand that sometimes life is messy, and things don’t go according to plan. We’re here to help them through it, not just approve or deny a piece of paperwork.

We work alongside traditional financial institutions, not in competition with them. Our goal is to fill the gaps, to help those who might not yet qualify for bank loans get the support they need to grow their businesses and eventually graduate to other types of financing.

Q: What are some of your proudest moments over the past 30 years?

A: There are so many! But I think the most meaningful moments are the ones where I can see the direct impact we’re having. During the pandemic, for example, I spoke to so many small business owners who thought they were about to lose everything. We did everything we could to help—whether it was connecting them to government relief programs or just being there to listen.

One business owner, a woman who had put her life savings into her salon, called me in tears. She was almost 80 years old and felt like she had lost everything. We managed to help her through, and today, she’s still in business. Those moments—when you know you’ve truly made a difference in someone’s life—are the ones that stick with you.

Q: What keeps you motivated after all these years?

A: Honestly, it’s the people. I’ve always been someone who needs a purpose, and helping people grow their businesses gives me that purpose every day. I’ve been working since I was 16, and I’ve never wanted to stop. Ascendus isn’t just a job—it’s a calling. I know the work we do matters, and that keeps me going.

Q: What are your hopes for the future of Ascendus?

A: I want to see Ascendus continue to grow and innovate, but always stay true to our roots. Technology is changing how we work, but no matter what, we need to keep that human connection at the center. Our clients aren’t just numbers—they’re people with dreams, and we’re here to help make those dreams a reality.

Q: If you could go back 30 years, what advice would you give yourself?

A: I’d tell myself to start sooner! This work has been one of the most fulfilling parts of my life. If I could have started helping people sooner, I would have. It’s not about the money or the numbers—it’s about the lives we’re changing. I’ve loved every moment of it.

Q: How would you describe your legacy at Ascendus?

A: I hope my legacy is one of resilience, compassion, and community. I want people to remember that no matter the challenges, it’s always possible to rise. The work we do at Ascendus is about more than just business—it’s about uplifting lives and communities, and I’m proud to have been part of that for the past 30 years