Ascendus launched a first in the nation Microinsurance Pilot Program that provides the first 120 new clients in NYC to be approved for a loan with $100,000 in Life and AD&D (accidental death and dismemberment) microinsurance; clients do not pay for the cost of this insurance.
Life insurance offers a lump-sum payment to beneficiaries upon the policyholder’s passing, while AD&D insurance specifically covers accidental death or severe injuries resulting from accidents. These options provide a comprehensive safety net to small businesses. The average cost of a family member passing in the U.S. can skyrocket to over $20,000 in under 30 days. Ascendus Microinsurance shields your loved ones from potential financial burdens during challenging times, offering peace of mind and stability.
We had the privilege of interviewing one of Ascendus’ dedicated loan consultants, Fabiana (pictured on the left), giving you the opportunity to meet one of the individuals who truly drive our organization and makes a tangible impact in the lives of small business owners.
Q: How do you describe what you do at Ascendus?
A: From phone conversations with entrepreneurs looking for guidance on the process of getting capital for business to Zooms with local partners to identify what we can do more together in our local community. There are days where we have to be an open ear to understand the frustration each entrepreneur faces with many closed doors for projects or growth ideas. In fact, what we all do at Ascendus is to work with heart, knowledge, and passion.
Q: Do you have a favorite client success story?
A: It’s hard to identify only one client. Each leaves an impression on us. There is always a story to tell behind each project and a story to tell when we mentor our small business owners about how to read a financial statement or why a late payment shows on credit report. Our empathy identifies our organization, and this is why we are a trusted partner nationwide. This week we had an amazing afternoon with Priscilla from Earthy Chic boutique earthychic.com. We know her from the difficult times we all experienced during Covid. Priscilla’s boutique closed their doors during the pandemic, and we met her while launching a local capital initiative called RISE. Then we assisted her with a SOAR loan to continue recuperating sales lost because of Covid. Priscilla was kind enough to host us on her busy Monday take photos with us. This type of pure bond of collaboration we see in each loan we provide.
I ‘d like to mention Derrick from Vouke drinkvouke.com/. He is a hard-working entrepreneur. We did a small loan amount for him, and he worked magic with his healthy beverage called Vouke. Recently Derrick participated in a local competition based on our recommendation. We were so excited when he won a $2.5k grant! This is what we do. Fight everyday for our clients.
Q: What advice would you give yourself if you were a small business owner looking for funds to better your business?
A: Every big business or idea started small. Over time, they grow and gradually, taking baby steps and without fear the entrepreneurs become are braver, stronger, and smarter than what they think can do — especially when they are surrounded by valuable partners like Ascendus and many others in the community.
Q: If you’d like, give a shout-out to a specific new client you’re really rooting for to be successful!
A: www.ebay.com/str/mavsolutions2020 [I] met Maria Osorio this month and she was amazing to work with
And, a bonus from Fabiana…
Nothing can be done alone …shout out to my team and the entire Florida team, the teamwork makes the dream work!)
Click to watch, and learn more about the incredible businesses that successfully navigated the pandemic with Ascendus.
Nicole Rose Studio offers a selection of candles, essential oil mists, and other products using pure plant-based ingredients with the intention of relaxing in your home, embracing personal rituals, and feeling connected with yourself.
Keap offers a range of scented candles created with regeneration in mind. Based out of Kingston, NY, Keap is on a journey to make better candles for both people and the planet.
Kindred Spirit Gifts is a small business with the tagline “gifts of gratitude, gifts with attitude”. They opened their doors in October 2018, with a mission to support female-led businesses and vendors who support social causes.
Need a loan, line of credit or personal finance coaching to help your business grow? Check out these resources designed for your needs.
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 Vermont.
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Supported by the Connecticut Department of Economic & Community Development, this fund links Connecticut small businesses and nonprofits to financial support.
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Qualified Businesses nationwide, excluding Vermont. If you have been in business for more than three years, you can access up to $25,000 in fast-track financing within 48 hours. No paperwork is needed to apply.
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Loans up to $15,000 in financing for rideshare businesses are offered at 13.99%. Qualified businesses will be in CT, MA, ME, NH, NJ, NY, or RI.
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Access a line of credit up to $10,000 in fast-track financing at a 13.99% interest rate.
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No FICO minimum! This line of credit product is designed for African American small business owners ready to improve their credit and invest in their business. The Get Ready Line of Credit starts at $500 for the first 6 months and grows to $5,000 with good repayment and completion of a credit action plan. Offered at 13.99%.
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Free tailored credit coaching for all current clients that are interested in our “Get Ready” Loan product. 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.
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Equity Alliance for Business seeks to meet the needs of business owners with 51% or greater ownership by women or people of color and all their intersectionality, including the LGTBQIA+, veterans and disabled communities, who may not qualify for access to capital with traditional underwriting standards. The program offers: local 1:1 banking relationships, credit solutions including a special purpose credit program, supplementary financial products & services, access to other tools & resources.
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The M&T Bank Multicultural Small Business Lab is an intensive, weeks-long program designed to develop racially and ethnically diverse owners of businesses. The Lab promotes business and financial inclusion through empowerment, providing owners with much-needed access to information, tools, resources, and connections they need to grow and thrive. Participants are presented with tools and opportunities to increase their visibility, accelerate their business, and achieve success. To learn more, please contact Mary Ann at [email protected]
Looking for more business resources? Check out our curation of resources designed to help minority-owned businesses flourish.