Trustee: Ascender

Pittsburgh, PA


Overview

Why are you interested in becoming a Trustee?
Ascender aims to be a catalyst for economic development, primarily through entrepreneurship. Becoming a trustee would allow us to help aspiring entrepreneurs gain access to otherwise unavailable capital, either because their startups lack financial history or substantial assets for collateral. Having advised multitudes of startups, we are in the position to make the loan as impactful as possible for the companies, Kiva lenders, and the community.
What is the mission of your organization?
We are a vibrant hub with educational programs for entrepreneurs, mentorship and expert coaching, incubation and a collaborative coworking space that helps drive innovation and growth. From fledgling tech companies, healthcare innovators, and nonprofits to makers, creators, services and shops, entrepreneurship thrives here.

Borrower Due Diligence

How will you decide who to endorse as a borrower? What due diligence will you conduct?
We will start by conducting interviews with potential borrowers. We then ask them to submit a high-level, 2-page business plan and observe their operations for over a month to build rapport. Finally, we ask for a budget on how they will use the loan, a repayment schedule, and any other supporting documents that establish their credibility as borrowers. We want to see the level of readiness their business in turning over the cash they borrow as capital. We will endorse depending on several factors: * stage of product/service (e.g. idea, development, production, etc.) * business owners' level of experience * business owners' level of motivation and discipline * understanding of business administration * sales forecast/funnel * sales history (list of previous sales transactions) if any

About Ascender


Location: Pittsburgh,
Total loans: $20,000
Paying on time: Not enough data
Paying back late: Not enough data


All Loans for this Trustee