Claudia Romero, Pega Grill >
Business Term Loan
Small business loans and microloans are offered up to $50,000. Interest rate of 7.50%-13.99%. Qualified businesses will be located nationwide, except in Vermont and California.
Ascendus looks at the whole picture when deciding to lend, rather than focusing solely on credit, making us more flexible than other lenders. That said, not everyone is ready to take out financing for their business.
requirements for a Small Business Loan:
- Business has been generating consistent revenue for at least 6 months
- FICO score of 575 or higher. In some cases a cosigner to add strength to your application is required
- No (0) or very new credit
- No more than $3,000 in unpaid / past due debt
- Any bankruptcy must be discharged for more than 1 year
- Any foreclosure must be complete for more than 2 years
“I am incredibly happy, and my family is happy. My daughter loves that she can say, ‘can you pick me up from school?’ and I can finally say yes.” — Kaisha Rodriguez, Le Massage de Kai, Boston MA
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.
