1990s: Bringing Microfinance Home – The U.S. Initiative

In 1991, concerned about growing economic inequality in the United States, Accion brought its microlending model home by piloting a program in Brooklyn, New York. Accion aimed to help those who didn’t meet requirements for traditional financing (such as bank loans) because their requested amount was too small or because they had limited or damaged credit. Accion partnered with these entrepreneurs to build healthy enterprises, gain economic security and contribute to their community.

Accion has since worked to further adapt its lending model to the social and economic needs of communities across the United States. We now serve small businesses nationwide through four independent community development financial institutions (CDFIs) and a national office that invests in shared knowledge, innovation, and impact to benefit the entire network.

Since 1991, the members of the Accion U.S. Network have provided more than 60,000 loans to enterprising small business owners and disbursed more than $500 million in capital. Additionally, Accion provides business advising and training services – both in person and through online educational resources – to tens of thousands of entrepreneurs each year.

To learn more about Accion in the U.S., please visit: http://us.accion.org/

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