Our History
“We adapt our work to meet the most urgent challenges, opening pathways to a brighter, more resilient future.”
For more than 60 years, we have led the way in inclusive finance, shaping an industry that now benefits hundreds of millions of people worldwide.
1961
Accion Founded
Accion was founded by Joe Blatchford, a UC Berkeley law student who later became the 3rd Director of the U.S. Peace Corps. We began with hands-on development projects in Venezuela.
1970s
Launching Microcredit
Accion focused on the lack of economic opportunity in Latin American cities and began issuing small loans to microentrepreneurs in Recife, Brazil, launching microfinance in Latin America.
1980s
Expanding in Latin America
Accion helped start microfinance programs in 14 Latin American countries to meet the distinct needs of microenterprises. Accion’s clients shattered the myth that lending to low-income people was too risky. During this time, Accion also launched a loan guarantee fund, the Accion Bridge Fund.
1991
Bringing Inclusive Finance to the U.S.
Accion piloted a microlending program in Brooklyn, NY. Accion Opportunity Fund is now the leading nonprofit small business lender in the U.S., serving a client base that’s more than 90% women, people of color, and/or low-to-moderate income.
1992
Inventing a New Model
of Microfinance
Accion co-founded BancoSol in Bolivia, the world’s first private commercial bank for the poor, effectively inventing a model of socially responsible, financially viable microfinance that today impacts the lives of hundreds of millions of low-income clients globally.
2000s
Global Expansion
Throughout the 2000s, Accion extended operations into Asia and sub-Saharan Africa to reach and support financially underserved people beyond Latin America.
2003
World’s First Global
Equity Fund for
Microfinance
Accion opened doors to private bank funding for microfinance institutions through Accion Investments in Microfinance, allowing inclusive financial service providers to reach more people and establish relationships with the formal financial sector.
2007
World’s First IPO in
Financial Inclusion
The initial public offering of Compartamos Banco in Mexico, the world’s first IPO of an inclusive financial service provider, was a demonstration model for the industry and enabled Accion to expand its mission-driven investments aimed at creating a fair and inclusive economy.
2008
Founding the Center
for Financial Inclusion
Accion established CFI as an independent think tank working to advance a more inclusive and responsible financial system. CFI leverages partnerships to conduct rigorous research, test promising solutions, and advocate for evidence-based change.
2012
Developing Inclusive Fintech
Accion launched Accion Venture Lab, a seed-stage impact investment initiative focused on inclusive fintech. To date, Accion Venture Lab has invested in and supported more than 60 innovative start-ups that expand the reach, quality, and affordability of financial services at scale.
2015
World’s First Global
Inclusive Fintech Fund
Accion launched the first global inclusive fintech fund: the Accion Frontier Inclusion Fund, managed by Quona Capital. This and subsequent Quona funds harness the power of the capital markets to improve the quality and availability of financial services.
2020
Building Resilience to
Unprecedented Threats
Accion is working to build an inclusive recovery from the global pandemic. We’re also addressing worsening threats caused by climate change, economic instability, and conflict, focusing our efforts on supporting small businesses, smallholder farmers, and women.
Today
As people’s needs evolve, so does our strategy
We are now developing responsible financial solutions in agritech finance, embedded finance, and innovations addressing the changing nature of work.
