In collaboration with the Restaurant Workers Community Foundation (RWCF), Ascendus is proud to offer a new loan designed for these clients’ businesses, the Restaurant Futures Loan (RFL). The Restaurant Futures Loan is designed for NJ based restaurants committed to building a safe and equitable workplace for their employees.
Restaurants may qualify for a 0% loan from Ascendus up to $50,000 with only $25 monthly payments for the first 12 months.
Qualified loan applicants will be asked, before a loan is granted, to consider their business operations on four dimensions:
- Sustainable wages & career ladders
- Gender equity and sexual violence in the workplace
- Immigrant and racial equity
- Supporting workers with mental health and substance misuse challenges.
Successful applicants will not need to demonstrate perfect workplaces, but rather, an interest in identifying areas for improvement and a willingness to share their challenges.
How your clients can apply:
- Apply online using this special link by end of day January 29TH
- If they pass the online application, they must complete the Restaurant Futures attestation survey.
- We will notify applicants via email by February 2nd if they are selected for final review.
Minimum Qualifications:
- Minimum 3 years in operations
- Minimum FICO of 575
- Storefront food/beverage businesses (restaurants, bakeries, cafes, breweries, bar & grill, etc.)
- Non-storefront food/beverage businesses do not qualify (Food trucks, caterers, distributors & suppliers)
Email RFLoan@ascendus.org for additional information.
