Ascendus, INC. - NY FY25

Ascendus, Inc. (doing business as Opportunity Fund) received a $701,026 Project Grant from the U.S. Small Business Administration (SBA) Office of Capital Access under the Microloan Program (CFDA 59.046) for the period July 1, 2025, through June 30, 2026. As a certified Community Development Financial Institution (CDFI), Ascendus will utilize this funding to support microenterprise development and expand access to capital for underserved entrepreneurs in New York. The organization will provide marketing, management, and technical assistance services to prospective and current microborrowers, as well as training support for intermediary lender staff operating within the program.

Under the Microloan Program, Ascendus will facilitate short-term, fixed-rate microloans of up to $50,000 to startup, newly established, and growing small business concerns in economically distressed communities. Eligible loan proceeds are restricted to working capital, inventory, supplies, furniture, fixtures, machinery, and equipment. The grant funding specifically supports the organization's capacity to deliver comprehensive business training, one-on-one consulting, and financial assistance to women-owned, minority-owned, and low-income entrepreneurs who lack access to traditional credit sources.