Ascendus will continue its five-year strategic plan to focus its work amongst Black, Latinx and female business owners by working with local partners in the areas they serve to introduce new products and offerings that better aid those that most in need of access to capital and support. Ascendus will lead with a renewed commitment to its six sore values of adaptability, integrity, inclusion, dedication, empathy and of course, passion.
Ascendus rose to meet the historic moment presented by COVID-19, and it is hard to overstate the magnitude of our impact since March 2020, when small businesses everywhere were forced to close their doors in the name of public health. Our work today bears little resemblance to what it was pre-pandemic, with the launch of brand new programs and partnerships designed to meet the short term relief and long term resiliency needs of small businesses across our footprint. Over 3,100 entrepreneurs have benefited from these innovative programs, receiving over $50 million in loan capital that has kept their doors open and their employees at work. This historic high was achieved among those who have borne the brunt of COVID-19 health and economic consequences: over 75% of our clients are entrepreneurs of color (primarily Black and Latinx), 45% are women, and 63% are immigrants, mostly from Latin American countries.
Ascendus is a nonprofit small business lender working to create economic opportunity by providing entrepreneurs with access to the capital and the business support they need to create and grow healthy enterprises and contribute to thriving local economies. Our organization serves small businesses in communities across the U.S. through locations in New York, Boston, Miami, and Orlando. Since 1991, Ascendus has provided more than $336 million to over 47,000 small businesses owners across the country. For more information visit ascendus.org