For Immediate Release
March 19, 2025
Contact: Gustavo Banchero, Director of Communications | [email protected]
New York, NY – President Trump’s recent executive order limits the future of the Community Development Financial Institution (CDFI) Fund, disrupting access to capital for thousands of small business owners nationwide.
For decades, CDFIs have powered financial resilience—driving opportunity, creating jobs, and strengthening communities. Our impact is undeniable, our mission timeless.
Protecting access to capital is about making people great again. It is about creating futures for entrepreneurs who dare to dream bigger. Through the CDFI Fund, organizations like Ascendus have deployed $304 billion in capital to support small business owners across the country.
The CDFI Fund is also catalyst for economic mobility, enabling CDFIs to leverage $8 in private investment for every $1 awarded, multiplying the impact of federal support. CDFIs are not just lenders—we are trusted financial stewards with a proven track record of revitalizing rural, urban, and Native communities.
As a nationwide CDFI with over 30 years of experience, Ascendus has supported over 57,000 entrepreneurs with $420 million in loan capital, creating and sustaining over 160,000 jobs in local communities. “Our experience has taught us that access to capital is the first step to long-term sustainability. We exist to meet the needs that traditional lenders cannot” said Paul Quintero, CEO.
Why CDFIs Are Essential
Capital is the Lifeline of Small Business. Without steady and reliable funding, entrepreneurs struggle to cover operating costs, pay employees, and invest in growth. When traditional lenders fail to provide access to capital, small business owners are left without the resources they need to bridge cash flow gaps, forcing many to shrink operations or shut down entirely.
“Ascendus was the first place that looked at the full picture—the first to recognize what I had accomplished. Having someone believe in you makes a world of difference. Ascendus gave me resources, helped me build credit, and proved that I could pay back a loan.” — Emelyn Stuart, Owner, Stuart Cinema & Café, Brooklyn, NY
Our holistic approach makes us unique. We do more than lenders, we provide small business owners with the tools, knowledge, and flexibility they need to maximize their capital. Through tailored financing options and one-on-one coaching, we help entrepreneurs navigate financial challenges that traditional lenders overlook. Our focus is not just on transactions, but on real impact—ensuring that every loan leads to meaningful growth for business owners, their families, and their communities. This commitment is reflected in the success of our clients, whose survival rates exceed national trends.
A Call to Protect Access to Capital
By diminishing the CDFI Fund, the federal government undermines the financial infrastructure that allows small businesses to thrive. Without this support, countless entrepreneurs will be left without options, putting jobs, families, and local economies at risk.
Now is the moment to provide a voice of support for small business owners. Small businesses are the backbone of our economy, but they cannot thrive without access to the capital they need to grow. We call on financial institutions, corporations, and policymakers to step up and advocate for the protection of the CDFI Fund—because when small businesses succeed, we all do.
This Way Up—for All.
###
About Ascendus
Ascendus is a mission-driven, nationwide Community Development Financial Institution (CDFI) with over 30 years of experience empowering small business owners. We provide access to capital and financial coaching to help entrepreneurs achieve financial health and ascend toward lasting success. Dedicated to building thriving businesses and vibrant communities we have delivered over $420 million in financial support to more than 57,000 entrepreneurs across the country, building a future of financial ascension for all.
ascendus.org