ACCION USA
115 East 23rd St, 7th Floor
New York, NY 10010
Media Contact: Laura Kozien, 646-833-4536, lkozien@accionusa.org
For Loans: 866-245-0783
Web: www.accionusa.org
Email: Loans@accionusa.org
About ACCION USA (AUSA)
ACCION USA is a nonprofit microfinance organization that provides access to capital and financial education to low- and moderate-income individuals, primarily minorities and women. A pioneer and recognized leader in U.S. microfinance, AUSA empowers individuals to create sustainable businesses, increase family incomes, and contribute to the economic development of cities across the U.S. Since inception in 1991, ACCION USA has provided nearly $115 million in small business loans ranging from $500 to $50,000, offered nationwide via the AUSA online lending platform. For more information about small business loans, visit www.accionusa.org.
Organization Details
- Established in 1991 as the domestic arm of ACCION International, a global microfinance organization with the mission of providing people with the financial tools needed to work their way out of poverty.
- Headquartered in New York, NY with regional offices located in Miami, Florida; Atlanta and Savannah, GA; Boston, MA.
- An online lending platform makes AUSA microloans available nationwide.
- AUSA and its four licensees, ACCION Texas (also serving the Louisiana market), ACCION Chicago, ACCION San Diego, and ACCION New Mexico-Colorado-Arizona, form the U.S. ACCION Network, the largest microlending network in the U.S. with over $250 million lent historically.
Our Impact
Historical Lending Accomplishments (data as of 1/1/09):
Total number of loans provided: 18,439
Total dollars lent: $114,884,242
2008 Lending Statistics:
- Number of loans made: 1,708
- Total amount lent: $11,355,818
- Average loan size: $6,649
- Active year-end portfolio: $18,096,010
Recent impact study findings (Microtest study in coordination with the Aspen Institute):
- Increase family income: 61% of ACCION USA clients report an increase in annual income after receiving a loan, with a median increase of over $4,500 (or 18%).
- Create sustainable businesses: The business survival rate among ACCION USA clients is 97% for established businesses and 90% of start-up businesses.
- Create employment opportunity in low-to-moderate income communities: On average, each ACCION USA small business loan recipient creates 1.7 new jobs.
Our Clients
Although ACCION USA provides credit without discrimination to everyone who meets our lending criteria, we specialize in working with those who most often lack access to credit-women, immigrant, and minority business owners. Currently, our active clients are:
- 61% Hispanic or Latino
- 27% African American
- 40% Female
Loan Products and Services
- Business loans up to $50,000
- Start-up loans up to $30,000
- Credit Builder loans up to $700, intended to help individuals establish credit for the first time
- Financial Education: seminars, online resources, and personal consulting to help borrowers improve their financial knowledge.
How to Apply:
- Call toll free 866-245-0783
- Visit www.accionusa.org
- Loans approved in 5-10 business days after we receive a completed application
Basic Lending Criteria:
- AUSA asks that clients show commitment to building good credit before applying for an ACCION USA loan by being up-to-date on bills such as credit cards, utility bills, mortgage payments, and other loans. Learn more about our requirements
Benefits of an AUSA Loan:
- Access to capital & flexibility: AUSA specializes in working with business owners that do not currently qualify at the bank
- Opportunity to build credit: AUSA reports to all three credit bureaus; through good repayment, borrowers can establish or rebuild credit
- Personalized service: Loan consultants walk borrowers through the application process one-on-one