A Future Equity Agreement (SAFE) gives you the right to future shares in the company. If you invest, you're betting the company will be worth more than $15M eventually.
Did you know that at least 1 of 4, or at least 27%, of small business loans are unfunded or underfunded?
That's at least 7.3 million loan applications unfulfilled, which means at least 7.3 million small businesses do not get the support they need to grow and serve their communities.
And when you consider the average loan size of small businesses--$10,000--that means America has a working capital cap of at least $73 billion.
The other problem is that while community banks and CDFIs are on the ground in our communities connecting with small businesses, they often do not have the technology, capacity, or risk appetite to meet the huge demand for SMB working capital. Lending to small businesses is often deemed to be too laborious, too inefficient, too risky. To some, it's simply not worth the time.
So who's going to look out for small businesses in America?
Asenso is the Working Capital Marketplace for small businesses, bridging SMBs to affordable working capital that meets their unique requirements.
Our solution at Asenso is simple:
Through our team's Technology and Operations solutions, Asenso manages the "legwork" of the loan process–all the way from underwriting to disbursement–to lower the cost of processing and servicing loans, therefore allowing our partner community banks and CDFIs to offer lower-interest loans to the small business owners that need them most.
Our credit rating system matches borrowers with the best funding options available. This reduces the risk for lenders and lowers the cost for borrowers.
Now for the good news: we’ve already gotten started. We've deployed technology for our first CDFI client in Q4 2021.
Our pipeline is rapidly growing, and Asenso is ready to scale to empower more small businesses in their pursuit of capital like never before.
Asenso is led by a diverse and inclusive team of global professionals with venture capital, serial entrepreneurship, banking & finance, public policy, social impact, and emerging market experience.
We operate between the U.S. and Asian corridors, giving us access to great talent and diverse perspectives from different parts of the world.