Accion East's core product is small business microloans from $500 to $50,000, with a current loan average of $10,000. Our loan consultants work with borrowers one-on-one to assess their credit and business situation and determine the loan size that best meets their needs. This process minimizes risk while allowing borrowers to responsibly grow their businesses. Our loan products also include:
- Small Business Loans up to $50,000
- Loans for start-up businesses (less than 6 months in operation) up to $10,000
- Credit Development loans up to $2,500 to help individuals continue to establish their credit history.
To apply for a loan, visit our online loan application or view other ways to apply.
Our lending model is the product of 45 years of Accion experience in providing credit to low-to-moderate income individuals worldwide, customized to meet the unique needs of small businesses operating in the United States. Our lending philosophy is focused on:
- Credit Building: At Accion, we believe that a strong credit history is crucial to long-term financial success. We provide small business owners with the opportunity to establish or improve formal credit by reporting to all three credit bureaus. In addition, our Credit Builder loan provides individuals with the opportunity to establish credit for the first time.
- Financial Education: We recognize that the impact of a loan is increased with access to financial education. Our Your Money and You program provides essential credit and business education to borrowers and the general public via customized curriculums, online resources, and community workshops.
- Community Partnerships: Accion is a national organization with local roots in each community we serve. Our network of resource providers, bank partners, and referral partners allows us to remain closely tied to the small business community.