Accion is actually a good nonbank financial as well as the merely nonprofit business with the so it set of solution creditors. They specializes in microlending and you may centers on small businesses. Accion provides loans making use of their Possibility Fund and you can tailors investment conditions towards the means regarding private organizations.
At exactly the same time, there are not any prepayment penalties, and you will Accion even offers instruction and you may the means to access an assist system. The application requires around 15 minutes to complete and requires company people to get in revenue and you may expenses from their tax statements manually.
- Organization need to be in operation for around 1 year.
- Manager must individual about 20% of one’s company.
- Organization produces at the least $50,one hundred thousand during the annual transformation.