Growing Her Credit, Business, and Impact on Her Community

When Ybelia first moved to the United States, her community helped her make the Bronx her home. She noticed that many of the women in her community lacked access to affordable childcare and were unable to work due to childcare costs. To give back to her community, Ybelia started DCAG Daycare, and matched her prices to what those in her community could afford. “My motto is to serve our community unconditionally.”

ACCESS TO CAPITAL LEADS TO NEARLY TRIPLING HER BUSINESS

Ybelia’s daycare was quickly gaining traction, but she needed funding to furnish her daycare and to provide toys, food, and educational resources for the children in her care. She turned to Ascendus, and received a loan from Ascendus’s Childcare Provider Initiative, which launched the success of her business. “Since my first loan with Ascendus, I have increased my staff, the number of children I can serve, and raised my credit score by 90 points.” Today, Ybelia has grown from being a sole proprietor with only six children under her care to having six part-time staff and 16 children in her daycare. She has implemented English and Spanish learning into her curriculum, expanded the age range of the children that she cares for, and renovated her space to create a well-rounded and comprehensive learning environment. Through good repayment plans and access to financial education assistance, she’s learned how to manage her debt and how to grow her credit. Today, Ybelia’s paid off her bad debt, and she’s grown her credit score by 90 points.

HAVING A SAFETY NET THROUGH CREDIT FROM ASCENDUS

Ybelia’s daycare has continued to expand, and in 2023, she received a $50,000 loan from Ascendus through the New York City Opportunity Fund. The funding enabled her to implement a pickup and drop-off program, giving parents more freedom and flexibility in their daily lives. The loan also enabled her to create an after-school program, creating an ongoing space of support and learning for the families and children in her community. The implementation of these programs is furthering Ybelia’s main goal of helping women in her community balance both work and childcare. But even with her growth, Ybelia was still worried. “The pandemic almost shut down my business. I needed funding for emergencies.” She reached out to Ascendus and received a Line of Credit that allowed her to have freedom, peace of mind, resiliency, and access to opportunity. “I am so grateful for Ascendus that I have a safety net. I don’t have to worry anymore.”