Ascend Consumer Finance or ascendloan.com is an online lender based in San Francisco, California, that offers competitive rates to borrowers with credit scores as low as 580 by using new risk assessment methods. The startup was founded in 2014 by Stewart Sui, Scott Crawford, and Steven Carlson, and has issued over 1,250 loans worth more than $7 million.

How Does Ascend Work?

Ascend provides customers with two loan types: the Ascend Personal Loan, which has fixed rates and payments, and the RateReward Loan, which gives borrowers the chance to qualify for lower finance charges by using a new risk evaluation method called adaptive risk pricing. This method allows Ascend to change the rates it charges borrowers from month to month based on the financial decisions they make.

Borrowers who make financially responsible decisions such as paying debt accounts on-time, increasing savings balances or reducing their overall debt receive monthly rewards. The monthly finance charges of borrowers are then lowered every month based on the points they have earned. Rewards can reduce the APR by up to 50%. People can even choose to pledge their auto title to reduce the APR of their loan by 20% each month.

What Are Ascend's Rates and Fees?

Ascend's rates range from 27.49% APR to 35.99% APR depending on credit, the loan amount and the rewards borrowers earn. Ascend doesn't charge borrowers initiation fees, application fees or prepayment fees. The only charges borrowers need to consider are the APR and late fees if they don't make payments on time.

How Much Money Can I Borrow with Ascend?

Ascend offers loan amounts ranging from $2,600 to $12,500. The maximum loan amount is determined by credit history and income. The maximum loan amount is 36 months.

Which States Does Ascend Operate In?

Ascend operates in Alabama, California, Georgia, Illinois, Missouri, Oregon, South Carolina and Utah.

What Is Ascend's Application Process Like?

Ascend's application process is done entirely online. Ascend must confirm employment history and income before granting a loan, but application turnover times are fast and once approved borrowers receive their funds within the next business day. Deposits are done automatically, and payments can also be paid through electronic fund transfers.

Borrowers must have an income of at least $35,000 and a credit score of 580+.

How Is Ascend Better Than Other Lenders?

Ascend offers fast loans of up to $12,500 with rates ranging from 27.49% APR to 35.99% APR to people with fair or even poor credit by using its proprietary adaptive risk assessment model. Ascend's adaptive risk assessment uses borrowers' FICO score to create a baseline rate but then tweaks it depending on the day-to-day financial decisions borrowers make.

There are no origination fees or prepayment penalties.

Ascend's RateRewards program allows borrowers who are better than their credit score to qualify for lower rates. This is an excellent tool to encourage people to make better financial decisions and reward those who are working hard to live down bad financial decisions in the past. 

  • Loan Amount
    $2600 - $12500
  • Payment Options
    • Automatic Payments
    • Check by mail
    • Credit/Debit Card
  • APR
    27.49% - 35.99%
  • Max Loan Term (Months)
  • Checking Account Required?
  • Credit Score Range
    580 - 850
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Military Status
    • Active Duty Military and Dependents
    • Non-Military
  • Minimum Age
  • Minimum Income
  • Supported Income Types
    • 1099 Misc. Income
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
  • Verification Documents Required?
    • Recent bank statements
    • Recent pay stubs
    • Driver license (or other photo ID)
    • Proof of citizenship/residence
  • Late Fee After (number of days)
  • Late Fee Amount
  • No Origination Fee
  • No Prepayment Fee
  • Institution Type
    Direct Lender
  • Approval Speed (Hours)
  • Customizable Payment Dates
  • Pre-Approved Soft Credit Inquiry
  • Funding Time
    1-7 days
  • Credit Bureau Reporting
Loan approval is not guaranteed. Actual loan amount and APR are estimates and may vary based on final review of your credit, other factors, and supporting documents. Ascend loan amounts vary from $2,600 to $12,500 and APR varies from 27.49% - 35.99%.
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0 votes

They are scammers! I had a horrible experience dealing with this company who are just another scammers who get ALL the personal information including SSN's and finances just to do identity theft. The guy named Nick Sillaro is so rude with applicants and talks filthy language and abuses on the phone just to get ALL your personal information and then insults the applicants on the phone. NEVER EVER GO TO THIS SCAM COMPANY.

0 votes

Ascend is a risk taken on not by the consumer financing company but by the consumer itself. They require more personal and financial information than a mortgage or a federal law enforcement position and if not approved or approved they have enough information to put your entire identity and your loved ones at risk. I have never seen anything like it and alternately thank goodness for cash call and Shoreside lending as they don't play games and our upfront about their process. I don't mind paying sub prime interest rates ... as I pay it off quickly and ascends rate is cheaper, but your chances our very very bad you will be approved even with fair credit. It's a 700 plus fico score company in disguise with a 35 percent APR which is shopped probably to investors on lending club. By the way, try about a 2 week turnaround to be told anything and no one answers the phone. Have a back up plan for sure and ask for a copy of their privacy policy to protect your idenity as this company does require so much information for such a low amount of funding and high interest rate, it is very suspect what they our actually doing. Monitor your credit and your bank accounts closely at least 60 days after applying with ascend and if there is suspicious activity document your experience with this company to present to ca department of consumer finance for review. More Less

0 votes

they said they approved my application. but after I send all the bank statement and ID . They said the can not appove my loan. Now they had all my inflammation plus inked to my bank account. do not know how to trust this company.

1 votes

I looked at a couple different loan options, but what attracted me was the RateRewards idea, where I can earn a lower rate over time. Don't know if I'll be able to do it every month, but we'll see how it goes. Service was great. I was able to put in my documents and they sent me a note that day saying I was approve.

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