ACCION SERVING THE EAST COAST - Opportunity finance...us.accion.org/east ACCION SERVING THE EAST...
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us.accion.org/east ACCION SERVING THE EAST COAST Accion creates access to opportunity through small business ownership, especially for those who have the least access to that opportunity. With economic opportunity, these entrepreneurs–often women and minorities–can build assets, better provide for their families, create employment, and strengthen their communities. Since inception, Accion has lent over $200 million to more than 22,000 businesses. Each year we serve small business owners nationwide, with a focus on serving small business owners in New England, New York, and Florida. We have offices in Boston, New York, Miami, and Orlando, and we reach forty-seven states through the internet. Success Story: Nitin Bakery, Elmhurst, NY Tania Jauregui started Nitin Bakery to support both her family and her community. An Accion loan gave her the working capital to open Nitin Bakery’s doors. Located in a low-income neighborhood, Nitin Bakery offers discounts and giveaways to neighbors in need. Tania also mentors sixteen employees, almost all of whom are immigrants with no prior professional experience. “When your business grows, you want to help others,” she says. When Tania learned the property housing her bakery was being sold and she had just two months to relocate, she turned again to Accion. With a 7(a) SBA Community Advantage loan, she transformed a new space for Nitin Bakery. “Accion gave us the opportunity to grow,” she says. In 2019, Tania was able to pay off her Community Advantage loan and apply for a line of credit from a bank, indicating that Accion’s support enabled her to achieve lasting self- sustainability and opened up new opportunities for success. Financial and Social Impact • Business loans from $500 to $250,000 • Financial education resources including online and in-person workshops, online resources, and one-on-one coaching • $15 million, totaling 1,005 loans, in 2019 • 92% loan repayment rate • 3.3 jobs on average created or sustained with each Accion loan • 97% of borrowers keep businesses open one year after a loan from Accion Opportunity Finance Network Member Profile We Believe In Opportunity. For All. OFN.ORG Contact 80 Maiden Lane, Suite 903 New York, NY 10038 Name: Victoria Richardson Phone: 646.833.4546 Email: [email protected] May 2020
Transcript of ACCION SERVING THE EAST COAST - Opportunity finance...us.accion.org/east ACCION SERVING THE EAST...
us.accion.org/east
ACCION SERVING THE EAST COAST
Accion creates access to opportunity through small business ownership, especially for those who
have the least access to that opportunity. With economic opportunity, these entrepreneurs–often
women and minorities–can build assets, better provide for their families, create employment, and
strengthen their communities.
Since inception, Accion has lent over $200 million to more than 22,000 businesses. Each year we
serve small business owners nationwide, with a focus on serving small business owners in New
England, New York, and Florida. We have offices in Boston, New York, Miami, and Orlando, and
we reach forty-seven states through the internet.
Success Story: Nitin Bakery, Elmhurst, NY
Tania Jauregui started Nitin Bakery to support both her family and her community. An Accion
loan gave her the working capital to open Nitin Bakery’s doors. Located in a low-income
neighborhood, Nitin Bakery offers discounts and giveaways to neighbors in need. Tania also
mentors sixteen employees, almost all of whom are immigrants with no prior professional
experience. “When your business grows, you want to help others,” she says.
When Tania learned the property housing her bakery was being sold and she had just two
months to relocate, she turned again to Accion. With a 7(a) SBA Community Advantage loan,
she transformed a new space for Nitin Bakery. “Accion gave us the opportunity to grow,” she
says. In 2019, Tania was able to pay off her Community Advantage loan and apply for a line of
credit from a bank, indicating that Accion’s support enabled her to achieve lasting self-
sustainability and opened up new opportunities for success.
Financial and Social Impact
• Business loans from $500 to $250,000
• Financial education resources includingonline and in-person workshops, onlineresources, and one-on-one coaching
• $15 million, totaling 1,005 loans, in 2019
• 92% loan repayment rate
• 3.3 jobs on average created or sustainedwith each Accion loan
• 97% of borrowers keep businesses openone year after a loan from Accion
Opportunity Finance Network Member Profile
We Believe In Opportunity. For All. OFN.ORG
Contact
80 Maiden Lane, Suite 903New York, NY 10038
Name: Victoria Richardson
Phone: 646.833.4546
Email: [email protected]
May 2020
