Ask online investment firm Aspiration, which launches today, what their big audacious goal is, and they’ll tell you it’s democratizing the financial services industry. Along the way, with the help of Accion, every dime of every dollar of revenue they earn from investors will go to support expanding economic opportunity in the United States.
“This campaign gives Aspiration investors a unique opportunity to be part of our nationwide efforts to connect aspiring and established business owners with the microloans and coaching they need to create jobs and thrive in local communities,” said Accion U.S. Network CEO Gina Harman. “These dollars will support hardworking individuals and families that are fighting to create economic opportunity for themselves through business ownership.”
So here’s how it works. For every dollar that Aspiration makes, one dime will go toward supporting Accion’s work in the local community as part of Aspiration’s Dimes Worth of Difference commitment. These dollars support entrepreneurs like Mary Stapleton, owner of Ms. Sparky Electric in San Diego. She secured an Accion loan to support her family by starting and growing her business as an electrician and certified contractor.
Investors using Aspiration’s online platform can also make a donation to Accion and other charitable causes of their choice through Dimes Worth of Difference. It provides both investors and Aspiration the opportunity to support underserved business owners as they work to generate income, build assets, and create lasting economic vibrancy in their communities.
“Aspiration was founded on the idea that an investment firm should trust its customers and that a company can do well by doing good,” said Andrei Cherny, founder and CEO of Aspiration. “Wall Street has shut out the average American, the everyday investor, for far too long and a result is America’s growing wealth gap. We want Aspiration to be an investment firm where people can build value without having to park their values at the front door.”
Read more about Aspiration’s Dimes Worth of Difference commitment and watch a video about Mary here.