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ASCENDUS INC
NEW YORK, NY · EIN 113317234 · Form 990 · FY2024 · NTEE S400 · Community Improvement · Large ($10M-$50M) · ascendus.org
revenue
$12.2M
expenses
$15.8M
net assets
$14.4M
employees
58
volunteers
19
program ratio
80%
mission · from form 990

ASCENDUS EMPOWERS LOW-TO-MODERATE INCOME BUSINESS OWNERS THROUGH ACCESS TO CAPITAL AND FINANCIAL EDUCATION.

profile · synthesized from sources

Ascendus provides small business loans and financial education to low-to-moderate income entrepreneurs across the United States, with a focus on underserved communities including women, people of color, and childcare providers. Through tailored loan products and credit-building programs, the organization supports business growth, creditworthiness, and long-term financial stability. It operates in multiple states and has disbursed over $435 million to more than 62,000 businesses since its founding.

irs program accomplishments · form 990 part iii · fy2024

What they reported doing

  1. #1 primary $3.31M
    IN THE SECOND PROGRAM, ASCENDUS PARTICIPATES IN PARTNERSHIP PROGRAMS WHERE LOANS ARE ORIGINATED AND PORTIONS ARE SOLD TO THE PARTNER ORGANIZATION. THIS PROGRAM PROVIDES BOTH A LIQUDITY AND RISK MITIGATION ALLOWING ASCENDUS TO MAKE MORE LOANS SERVING MORE CLIENTS THAN IT WOULD WITHOUT THESE PROGRAMS. LOAN PARTICIPATIONS RANGE FROM 75%-95% DEPENDING ON THE PARTNER.
named programs · 5 · from sources

What they call their work

Business Line of Credit
Lines of credit up to $50,000 with interest rates from 9.99% to 15.99%, designed for fast access to capital with minimal paperwork
Business Term Loan
Loans up to $100,000 for small business owners to grow their businesses, available nationwide except Vermont
Childcare Business Loan
Fast-track financing up to $25,000 for childcare providers with more than 3 years in operation, part of the Childcare Provider Initiative
Get Ready Program
Special Purpose Credit Program starting at $500, building to $5,000 with repayment and completion of a credit action plan; no FICO minimum required
Small Business Catalyst Fund
Supports small business growth through flexible financing, including the Florida State Small Business Credit Initiative and regional funds like the Charlotte Growth Fund and Connecticut Small Business Boost Fund
activities · 2 groups

What they do

  • Small Business and Nonprofit Lending 4 activities
    • Expanding lending capacity through loan participation programs
      Increases lending capacity by originating loans and selling participations (75%–95%) to partner organizations, enabling broader service to small business clients.
    • Funding SBA-backed small business loans with technical assistance
      Provides SBA partially guaranteed loans ranging from $50,000 to $250,000 with terms up to 10 years, coupled with technical assistance, to underserved entrepreneurs across fourteen states.
    • Operating the Get Ready Program for credit building
      Runs a special purpose credit program that starts with $500 in financing and can increase to $5,000 upon consistent repayment and completion of a credit action plan, helping entrepreneurs build creditworthiness.
    • Providing small business loans and lines of credit
      Offers term loans up to $100,000, lines of credit up to $50,000, and fast-track loans up to $25,000 for childcare businesses, with varying terms and minimal paperwork, to small business owners nationwide (excluding Vermont) and in targeted cities like Charlotte.
  • Small Business Technical Assistance 1 activity
    • Providing educational resources for small business owners
      Offers educational materials and resources on topics such as website setup and tax payment to support small business owner success.
financials · form 990 · fy2024
revenue
Total revenue$12.21M
Contributions & grants$5.33M44%
Program service revenue$6.36M52%
Investment income$518K4%
Other revenue$0
expenses
Total expenses$15.82M
Program expenses80%
Admin / overhead14%
Fundraising5%
Salaries & benefits$7.22M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$61.54M
Cash$25.08M
Investments$0
Liabilities$47.17M
Net assets$14.37M
Liquid reserves19.0 mo
4 years on record · 2020–2024 · YoY revenue +14.8%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 8
NameTitleHours/wkCompensation
PAUL QUINTERO CEO 40 $440K
ANA HAMMOCK CHIEF LENDING OFFICER 40 $243K
JOSHUA BRACKETT CFO 40 $218K
VICTORIA N RICHARDSON SVP, DEVELOPMENT & COMMUNICATIONS 40 $192K
RODRIGO CERVEIRA VP, CREDIT RISK 40 $184K
ANDREA IERACE SVP, LENDING 40 $184K
FABIANA A ESTRADA REG. VP, LENDING AND BUSINESS DEV. 40 $177K
JENNIFER SPAZIANO SVP, OPERATIONS & INNOVATION 40 $176K
board members · 17
  • AMY HELLEN — DIRECTOR
  • ARMANDO ACOSTA — DIRECTOR
  • COLLEEN GALVIN — VICE-CHAIR (OUTGOING)
  • DANIEL DELEHANTY — VICE-CHAIR
  • DEANNA MAESTRAS — DIRECTOR
  • JAS JEET SINGH — DIRECTOR
  • JEROME WEISS — DIRECTOR
  • JESSIE CHIANG — DIRECTOR
  • JOSEPH HERNANDEZ — DIRECTOR
  • LAURA MILLER — CHAIR
  • PABLO CORTINA — DIRECTOR
  • PERRI RICHMAN — DIRECTOR
  • QUENIA ABREU — DIRECTOR
  • RAMONA CEDENO — DIRECTOR
  • ROSHELLE NAGAR — SECRETARY
  • SANDY FERNANDEZ — DIRECTOR
  • SHELLEY R SYLVA — DIRECTOR
relationships · 9

Who they work with

  • ACEDONE Partner — National community partner organization collaborating with Ascendus to support entrepreneurs.
  • Ascendus Partner — Partners with small business owners and other organizations to support economic development.
  • Connecticut Department of Economic & Community Development Partner — Partnership to support the Connecticut Small Business Boost Fund, linking small businesses and nonprofits to financial resources.
  • Jamaica Plain Neighborhood Development Corporation Partner — Regional community partner working with Ascendus to deliver services to clients.
  • New York City Opportunity Fund Partner — Collaborates to provide loans to small business owners in New York City.
  • TD Bank Partner — National community partner enabling client referrals and financial support through collaboration with Ascendus.
  • TD Bank Partner — Refers clients to Ascendus for financial support and lending services.
  • TD Bank Partner — Refers entrepreneurs to Ascendus for financing support.
  • U.S. Small Business Administration Government — Certified Community Advantage lender offering SBA-backed loans
strategies · 4

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Barrier-Reduced, Ethical Lending for Financial Inclusion
    methodology: barrier-reduced lending process
    By simplifying loan processes and advocating for borrower rights through frameworks like the Small Business Borrowers’ Bill of Rights, we increase access and trust among underserved entrepreneurs because reduced procedural and systemic barriers enable participation without exploitation.
  • Client-Centered Financial Empowerment
    methodology: client-centered collaboration
    By customizing financial products and support based on individual entrepreneur goals and needs, we produce more effective business outcomes because trust and relevance increase engagement and repayment success.
  • Integrated Capital and Capacity Building
    methodology: integrated financial education and credit-building
    By combining access to capital with financial education, technical support, and credit-building structures, we produce sustainable business growth because entrepreneurs gain both resources and the knowledge to use them effectively.
  • Staged and Targeted Financing for Business Resilience
    methodology: staged-financing-support
    By offering multiple financing options tailored to different business stages and sectors, we support sustained recovery and growth because entrepreneurs receive appropriately timed capital aligned with real-world operational needs.