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products and programs
step it up with an Ascendus business loan
Whether you are looking to take your current business to the next level or launch the next big idea, we’re here to help you fund your path to success.
Business Term Loan
For small business owners who need money to grow their business, Ascendus offers loans from $500 – $50,000. Qualified businesses will be located nationwide, except in Vermont and California.
Small Business Catalyst Fund
In partnership with Fifth Third Bank and Community Reinvestment Fund, USA we introduce the Small Business Catalyst Fund. —an innovative program that connects entrepreneurs with flexible funding options tailored to the unique needs of small businesses in local communities.
Florida State Small Business Credit Initiative
Ascendus’ Florida State Small Business Credit Initiative provides accessible and flexible financing to support the growth and success of small businesses across the state. Whether you need working capital, equipment, or funding for renovations, we’re here to help.
Charlotte Growth Fund
Loans up to $50,000 for qualified businesses in Charlotte
New Jersey Capital Access Fund
Loans up to $150,000 for qualified businesses in New Jersey
Connecticut Small Business Boost Fund
Supported by the Connecticut Department of Economic & Community Development, the Connecticut Small Business Boost Fund links Connecticut small businesses and nonprofits to the financial support they need to thrive.
Childcare Business Loan
If you have been operating for more than 3 years, access up to $25,000 in fast track financing at the same interest rate within 48 hours. No paperwork required to apply!
Get Ready Program
No FICO minimum! This Special Purpose Credit Program is designed for Black or African American business owners ready to improve their credit and grow their business. The Get Ready Program starts at $500 for the first 3 months and grows to $5,000 with good repayment and completion of a credit action plan. Offered at 13.99%. Free tailored credit coaching for all current clients that are interested in our Get Ready Loan Program. Training sessions will include credit building, debt management tailored to long- and short-term goals, prioritizing debt repayment, budget assessment, and assessment for current credit building programs.
Business Line of Credit
Access a line of credit up to $25,000 in fast track financing at 13.99%. Minimum paperwork required to apply!
*Open to all states, except Vermont.
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.
The Ascendus loan kept me from going bankrupt. Through the loan I paid my employees, my rent, my bills, and bought the inventory to keep my restaurant open.
Through the Ascendus loan, I became the owner of my own clinic. Now I can treat whoever I want, whenever I want, in a space that is my own.
frequently asked questions
Questions? We’re here to help. We want to make getting a loan from Ascendus as easy as possible. So, we want to share the top questions we get asked and answer them for you.
how important is my credit score in qualifying for a loan?
Credit is just one of many factors that we look at when we work with business owners. If your credit isn’t well established or damaged, we can work to find strengths in your business or finances to make the loan possible. In some cases, we have firm requirements such as amount in past due debt, bankruptcies and credit score minimums. So please check our loan requirements to see if we are a good fit for you.
does ascendus offer services other than loans?
Local businesses choose to work with us for more reasons than just access to loans. Our staff will go the extra mile for you throughout your application process, the life of your loan and beyond. We can help you connect with peers, local organizations, banks and more to provide as many opportunities for growth as possible. You can call us any time and connect with a live person. And of course, you can access our business resource library anytime.
what makes ascendus different from other financial institutions?
Ascendus is a nonprofit, community organization dedicated solely to helping small business owners succeed and communities thrive. We are often able to lend to small business owners who have trouble finding loans elsewhere thanks to our smaller loan sizes, a process that looks at more than just a credit score, and terms that are designed to best meet your needs.
what types of businesses does ascendus lend to?
Ascendus works with businesses in a variety of different industries such as construction, transportation, retail sales, landscaping, restaurants, professional services and more.
Ineligible Industries: Real Estate, Adult Entertainment/Materials, Drug Paraphernalia, Distribution, Sale or Manufacturing of Firearms: Non-FDA Weight Loss Products, Traditional Lending Institutions, Alternative Lenders, Check Cashing, Factoring Organizations, Non-Bank Cash Advances, Pawn Shops, Non-Profit Organizations, Non-U.S. Companies, Collection Agencies, Currency Exchanges, Precious Metal Sales, Investment Opportunities, Gambling Establishments, Lotteries/Raffles, and pyramid or multilevel sales plans
will my startup business qualify?
Ascendus has worked with thousands of start-up businesses across the country. Startups need to have been in operations for a minimum of one year, and are required to have a partner verified business plan with a 12-month cash flow projection. View our partners here: https://www.ascendus.org/partner/
what is the application process like?
Once you submit your online application, we’ll be in touch within 2 business days to let you know if you’re a good fit for Ascendus. If you are, you’ll be put in touch with a lending team member who will work with you one-on-one to assemble the strongest loan application possible. This will include documentation to confirm some of the information submitted in your application, as well as some other documents to help us understand your specific business situation as best we can.
what if I don't qualify?
If you don’t qualify for a loan with us at this time, we’ll give you the information you need to improve your business and financial situation so that you have an improved chance of qualifying on your next application. Typically, you’ll be eligible to reapply in three to six months.
how much should I apply for?
When thinking about how much you should apply for, consider the following: Loan Use – What will I use the loan for specifically and do I know how much that costs? Monthly Payments – Will I be able to comfortably afford the monthly payments that will come with the loan? Click here to check out a monthly payment calculator.
how to calculate the interest rate?
If you want to calculate the monthly interest rate click here
are ascendus loans guaranteed by my business or personal credit?
Ascendus loans are always personally guaranteed. We never take your home as collateral but may ask for a cosigner or collateral such as a vehicle or piece of equipment to add strength to your application.
Have a question not addressed in our FAQ? Speak to our chatbot on the right or Contact Us for more information.
loan amounts
Our term loans range from $500 to $150,000. We’ll work closely with you to determine how much is needed to move your business in the right direction.
credit requirements
Your hard work and determination are valued at Ascendus. Our loan officers take the time to get to know you, accounting for strengths beyond just your credit score.
fair rates
We’re in business to see you succeed. Our loans are fairly priced and flexible. Everything is laid out for you so it’s simple and easy to understand every step of the way.
our process
Our online application is quick and easy and puts you on a faster track to getting you the funds you need. Once that’s complete, one of our loan experts will work with you one on one to craft a custom solution.