Overview
Ascendus is a nonprofit lender that provides microloans, financial coaching, and credit-building programs to small business owners across the United States.[1] Headquartered at 260 Madison Avenue, 8th Floor, New York, NY 10016,[2] the organization is a 501(c)(3) nonprofit that describes itself as empowering low- to moderate-income business owners with access to capital and financial education.[3] Over three decades, Ascendus has lent $435 million to more than 62,000 small businesses nationwide.[4] The organization pairs lending with coaching, positioning the loan as a beginning rather than the complete service offering, and provides a customer portal for loan management.[5] Ascendus maintains affiliations with the Small Business Administration, the Better Business Bureau, Credit Builders Alliance, and the CDFI Fund, and holds a Guidestar/Candid Seal of Transparency.[8] The organization is led by CEO Paul Quintero, who was appointed to the position in 2011 after serving as Chief Financial and Operating Officer.[7]
The company's own site places it in New York: Address listed as 260 Madison Avenue, 8th Floor, New York, NY 10016. [2]
Ascendus pairs lending with coaching, saying "For 30 years we have paired capital with coaching — so the loan is the beginning, not the whole story," and offers a customer portal for loan management. [5]
Ascendus is headquartered at 260 Madison Avenue, 8th Floor, New York, NY 10016. [6]
Growth & traction
Ascendus says it has lent "$435 million to +62,000 small businesses nationwide" in the three decades since its founding. [4]
Ascendus lists eight named leadership staff plus 15 board members, a four-member New England Advisory Board and a ten-member Florida Advisory Board, led by CEO Paul Quintero, "appointed Chief Executive Officer in 2011 after serving as Chief Financial and Operating Officer." [7]
Partnerships
Ascendus displays affiliations with the Small Business Administration, the Better Business Bureau, Credit Builders Alliance and the CDFI Fund, plus a Guidestar/Candid Seal of Transparency. [8]
Focus
- Ascendus frames the market it serves with the statistics that "77% of small businesses report concerns about their ability to access capital" and "70% have less than four months of operating cash on hand."[9]
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