Accion New Mexico · Arizona · Colorado (Accion), a nationally recognized, local nonprofit organization recently achieved a major milestone with its active portfolio of business loans topping the $10 million mark for the first time in the organization’s 19-year history.
Strong demand for Accion’s business loans has driven significant growth in the organization’s lending volume this year. During the first half of 2013, the number of loans issued by Accion increased 41% compared to the same period last year. The average size of the business loans issued by Accion is also up markedly; dollars lent increased 93% for January through June 2013 compared to the same period last year. Along with this growth, the quality of Accion’s loan portfolio is strong with late payments and defaults at minimal levels.
Recent New Mexico recipients of an Accion loan, Mauro Nava and Olena Dziuba, used their loan to open a health clinic in Albuquerque’s South Valley to provide needed primary care access to residents. With seed money from the two partners and a line of credit from Accion, Clinica la Esperanza opened in fall 2011 and has quickly grown to provide jobs for eight professionals and offer more than 3,800 area residents affordable health care services including pediatrics, vaccinations and diagnostic technology. Reflecting on the commitment and capital it has taken to establish Clinica la Esperanza as a thriving community resource, Mauro says, “if it wasn’t for Accion, we wouldn’t be here.”
“It is our mission at Accion to expand economic opportunity by equipping entrepreneurs in our region with the capital, support and encouragement to realize their dreams of business success. We are pleased to be investing in the small businesses that are powering employment and new economic activity in our communities,” said Anne Haines Yatskowitz, president and chief executive officer of Accion New Mexico · Arizona · Colorado.
Accion is dedicated to helping entrepreneurs and business owners fuel income generation, asset creation, employment opportunities and financial success through business ownership. The organization offers business loans between $200 and $300,000 along with training, networking and other support services to those who own or want to start a business.
Founded in 1994, Accion New Mexico ∙ Arizona ∙ Colorado has served entrepreneurs in 312 communities, financing the start-up and/or growth of 3,960 businesses through 6,187 loans totaling more than $43.2 million. These businesses report creating or sustaining an estimated 6,336 jobs in the three-state region.
Accion New Mexico ∙ Arizona ∙ Colorado is a member of the Accion U.S. Network, the largest microfinance network in the United States. The network’s five members have collectively made more than 45,000 loans totaling more than $350 million. Globally, Accion is a pioneer in microfinance, reaching millions of individuals through its international network of partners. For more information on Accion New
Mexico ∙ Arizona ∙ Colorado, visit their website.