Ascendus — Small Business Term Loans and Microloans
Ascendus
Up to $100,000
National CDFI microloans, FICO 575+
Ascendus is a national nonprofit, mission-driven Community Development Financial Institution (CDFI) providing microloans, term loans, and financial coaching to entrepreneurs across 49 states (all except Vermont). Its core small business term loan goes up to $100,000 with interest rates of 7.75%–15.99% and terms up to 60 months, and is designed for businesses that have operated and generated consistent revenue for at least six months, with credit scores as low as a 575 FICO. Ascendus also offers a line of credit up to $50,000 and a credit-building 'Get Ready' product that starts at $500 and grows to $5,000 with consistent repayment. Funds can be used for working capital, inventory, salaries, marketing, equipment, debt refinancing, renovations, and vehicle purchases.
- Funding type
- Loan
- Level
- Private
- Amount range
- $500 – $100,000
- Realistic amount
- Most Ascendus borrowers receive a microloan or term loan well under the $100,000 ceiling — c…
- Deadline
- Rolling
- Status
- active
- States
- Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming
- Payment model
- loan
Who qualifies
- Business operating in any of 49 states (all except Vermont)
- At least 6 months in operation with consistent revenue for the last 6 months
- FICO score of 575 or higher
- No more than $3,000 in unpaid debt
- Bankruptcy discharged 1+ year (loans up to $25K) or 2+ years (loans up to $50K)
- Any foreclosure completed at least 2 years ago
What it covers
Eligible expenses
- Working capital
- Inventory
- Salaries
- Marketing
- Equipment
- Debt refinancing
- Renovations
- Vehicle purchases
Ineligible expenses
- Personal, non-business expenses
- Activities outside the stated permissible uses
How to apply
-
1
Submit the online application
Apply online at ascendus.org. Ascendus recommends consulting a local SBDC or community partner first to strengthen your application.
~1.5 hrs
-
2
Fit response within 2 business days
Ascendus reviews your application and contacts you within two business days to confirm whether you're a good fit.
~0.25 hrs
-
3
Work with a lending team member
If you're a fit, a lending team member works with you one-on-one to assemble the strongest possible loan application and gather documents.
~3 hrs
-
4
Underwriting, approval, and funding
Ascendus underwrites the loan and, on approval, disburses funds for your stated use (working capital, inventory, equipment, etc.).
~2 hrs
A 575 FICO floor and a 6-month-revenue bar make Ascendus one of the most reachable national lenders for newer, thin-credit owners. The 'Get Ready' ladder ($500 growing to $5,000) is a deliberate on-ramp: take it, repay on time, and you graduate into the larger term loan. Lean on a free local SBDC before applying — Ascendus itself recommends it.
Deadline & timing
Applications accepted on a rolling basis. After you submit, Ascendus follows up within 2 business days on fit and assigns a lending team member to help build the application.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.