Where is Accion based?
Cambridge, Massachusetts
Accion is an international nonprofit. Founded as a community development initiative serving the poor in Venezuela, Accion is known as a pioneer in the fields of microfinance and fintech impact investing….Accion International.
| Type | Nonprofit Organization |
|---|---|
| Headquarters | Cambridge, Massachusetts |
What is Accion org?
Accion is a global nonprofit committed to creating a financially inclusive world, with a pioneering legacy in microfinance and fintech impact investing.
How long has Accion existed?
1960s. Accion was founded in 1961 by a UC Berkeley law student. We began with hands-on work in Latin America; the first group of 30 Americans worked in urban centers around Venezuela.
How does Accion make money?
By making equity and quasi-equity investments in inclusive fintech startups, microfinance institutions, and other financial service providers, we help create well-run, mission-driven, and efficient organizations that achieve scale, impact, and returns.
Is Accion Opportunity Fund legit?
Accion Opportunity Fund is a nonprofit lender that provides fairly priced loans, educational resources, coaching and networking to small businesses. It offers small business owners term loans ranging from $500 to $150,000 and has flexible terms, making it our best pick for microloans.
How many borrowers has Accion Lent?
Accion’s advisory services reached 8.3 million clients around the world.
What is the minimum amount you can borrow from Accion?
Accion offers loans from a low $5,000 to $100,000.
Is there a minimum credit score for Accion?
Most of Accion’s loan types require a minimum credit score of 575 or higher. Consequently, Accion is not an option for businesses that might have struggled in the past and damaged their credit. They also take into consideration all past due debt and any bankruptcies.
How do I qualify for an Accion loan?
In general, to qualify for a loan you must:
- Have a credit score of 525 or higher or no credit score.
- Have sufficient cash flow to support monthly loan payments.
- Have not declared bankruptcy in the past 12 months or foreclosure in the past 24 months (This requirement is flexible for loans under $2,500)
Does Accion check your credit score?
What is the max amount you can borrow from Accion?
Accion offers loans from a low $5,000 to $100,000. Its terms range anywhere from 12 months to 5 years, and you can expect an APR up to 25.99%.
How do you qualify for Accion loans?