Refer a Business for a Loan

Do you know of a business that needs capital but has previously been or will likely be turned down for a business loan? If so, consider referring them to us. Our loans are fair and affordable, and come with business advisory services that can help their business succeed.

Referral Partners

The majority of our clients come to us via referrals from others, including:

  • Bankers
  • Accountants / Bookkeepers
  • Brokers
  • Advisors
  • Clients

Our Goals / Your Benefits

Our goal with every loan that we make is to help our clients grow, thrive and ultimately secure a traditional bank loan one day. By making a referral, your business can benefit by:

  • Retaining  your relationship with your client
  • Positioning  yourself as their advocate
  • Presenting an affordable alternative for loan denials

Our Promise To You

It is understandable that you may have some apprehensions about referring a client to us. Rest-assured we will:

  • Not Compete – We don’t offer any other banking products or services.
  • Foster Your Relationship – We will encourage electronic disbursements into your accounts.
  • Offer Affordable Rates and Fees – Our rates are in the 8 – 10% range and origination fees vary from 1% to 3%.
  • Not Charge Early Payment Fees – It would be our sincere pleasure if you can one day refinance their loan with us (minimum timeframes may apply)
  • Treat Them With Respect – We know they may have already been on a bumpy ride. We will treat your referrals with the respect they deserve and may even provide a little extra TLC.

That said, we cannot finance everyone and so take a few moments to review our lending criteria before making a referral.

Next Steps

Make a Referral

If you’re ready to refer someone,  the sidebar describes the process in just a few easy steps. We look forward to hearing from you!

Note: Before you send the referral our way, please take a moment to review the types of loans that we make and our qualification requirements, to be sure we are the most appropriate fit.

Let Us Meet Your Team

If you have a team that could benefit from being an Ascent Funding referral partner, we would be more than happy to come to a meeting to introduce ourselves and explain in person how we can help them and their clients. It usually just takes 15 – 20 minutes. Contact Robin Wang to arrange a meeting.

Q. I’m a banker, why should I refer a client to a potential competitor?

A. Ascent Funding does not compete with banks. We are a non-profit CDFI that only offers two financial products (term loans and lines of credits) and only to customers that have been turned down by traditional banks. We don’t offer any deposit products and, ironcally, we don’t want a long term relationship with our borrowers: Our ideal customer is one that is able to build a credit history and business acumen through our support so that they are able to one day get a conventional loan from you. We encourage early payoffs so that our funds can be used help the plenty of other businesses in need. Here are some other benefits to making a referral:

  • Retain existing banking relationship with your clients
  • Position yourself as an advocate for your client
  • Alternative option when you must deny a loan

Q. Do you charge outrageous rates?

A. No. While our interest rates are higher than traditional banks in order to cover the higher risk, they are generally considered very affordable and are currently less than 10%.

Q. How are you able to provide a loan when a bank connot?

A. As a non-profit CDFI, we have different underwriting criteria, are significantly less regulated and have different risk tolerances. As such we have much more flexibility in how we structure our loans. Learn about the Ascent Difference to learn more.

Q. Do you turn down loans?

A. We do not finance every request that comes in the door. Sometimes, the prospective borrower and their needs do not fit our loan criteria or our mission. And although we are willing to be more flexible on factors like personal credit history and collateral, we still require a strong likelihood that our loans can be re-paid.

Q. What happens after I give a referral?

A. We ask all prospective borrowers to provide us with some basic information so that we can schedule an initial conversation with them to determine if there is a good fit. If there is, we then encourage them to start the loan application process by  submiting a loan application

Make A Referral

Making a referral is easy. There are 2 options:

  1. Call our Loan Officer
  2. Make an Email introduction to our Loan Officer (be sure to cc your client)

Join Our Referral Partner Mailing List

Make relevant referrals by staying apprised of our latest news and loan offerings. (Less than 1 email a month.)