Non Profit Profile: ACCÍON New York

www.accionnewyork.org

ACCION’s mission statement:

“ACCION New York contributes to the economic development of the New York metropolitan region by providing microloans and business advisory services to individuals and small businesses that do not have access to traditional sources of credit.”

Focus:

• Microloans for Small Business
• Caters to Start Up  & existing businesses
• Loans for Machinery or Merchandise
• Loans for Working Capital and Business Expansion

Requirements may include:

• Tax Returns
• Financial Statements
• Business Plan
• Proof of second income
• Credit history (however it is not a disqualifying factor)
• Cosigner or collateral may be required

Loans:

• Loan Size: $500 to $50,000
• Interest Rate: 11% to 18%
• Application Fee: $25

Other Services for clients:

• Free Legal and Technical Advise
• Seminars and education on different business management issues