“Conviction. Optimism. Passion for results. Innovation. All words that describe the entrepreneurial spirit” [source]
This week’s blog post is dedicated to the work that ACCION does to help small businesses needing micro loans succeed in their goals. According to their website, ACCION describes themselves as “…a global nonprofit dedicated to creating economic opportunity by connecting people to the financial tools they need to improve their lives.”
We came across a great article written by Gina Harman, CEO of ACCION, that reminded us of the success stories that we see come from our work with ACCION and the borrowers that receive SBA Micro Loans. CDC Small Business Finance is proud to work side by side with such a great organization such as Accion to help those small businesses that may just be starting out and are looking for working capital to continue their dreams of owning their own business.
The SBA Micro Loan Program is available for small businesses located in San Diego, San Bernardino, Orange, Imperial and Riverside Counties. CDC Small Business Finance offers loans up to $50,000 as a direct lender for new or early stage businesses seeking funds for expansion or start-up costs. This is a great loan program for borrowers who are experiencing difficulties in obtaining financing through a traditional bank, but still have strengths and show the capacity to repay the loan.
Borrowers may use the funds for working capital, start-up costs, tenant improvements, equipment or a variety of other uses. Upon funding CDC Small Business Finance connects small business owners with experienced business counselors for one-on-one business consulting to ensure our borrowers’ success in their business. You can find out more about the SBA Micro Loan Program and even watch a cool video on the details of what the loan entails by following this link.