ACCION USA

ACCION USA is an independent affiliate of ACCION International. From its roots in a small office in Brooklyn, NY, ACCION USA has grown to be a national presence, with direct lending offices in major metropolitan areas throughout the U.S. as well as an online lending platform. 

ACCION USA's core business is micro-lending in amounts from $500 to $50,000; the average loan is for $5,500. In 2008 ACCION USA made 1,708 micro-loans totaling nearly $11.4 million. From 2001, when ACCION USA was spun off from the parent organization, through 2008, ACCION USA served 18,439 low-income Americans with nearly $115 million in micro-loans. Along with affiliate lenders ACCION USA estimates that it backs 75% of micro-loans in the United States.

In June 2009, ACCION USA partnered with Kiva, the online person-to-person (P2P) micro-lending Web site, to support Kiva loans for U.S. applicants. “Qualified” entrepreneurs that come to ACCION now have the option of borrowing through Kiva which offers the benefits of closing costs.

The organization also recently expanded product offerings beyond small business loans. These new offerings include:

• Loans for start up companies ($30,000 max)

• Credit Builder Loans for individuals with thin or non-existent credit histories ($700 max)

• Credit Development Loans for individuals needing help establishing creditworthiness

Impact studies conducted in collaboration with the Aspen Institute demonstrate that  loans from ACCION have helped alleviate poverty in America. For example, 61% of borrowers see increases in take-home pay, with a median increase of 18% ($4,500); and each small business loan recipient creates on average 1.7 new jobs, according to ACCION USA.

One in four people, worldwide, survive on less than $1.25 a day