New York, NY, November 21, 2011— ACCION is pleased to announce $50,000 in funding from Discover to support the U.S. Network, the largest and only nationwide microfinance network in the United States.
“We are proud that we are able to support ACCION and help small businesses in the U.S. achieve a brighter financial future,” said Jennifer Grisamore of Discover.
The grant will support ACCION’s five U.S. lending organizations, which operate directly in 25 states and an online application platform. “With the smaller, more flexible loans that small business owners seek harder than ever to obtain from traditional banks, our work takes on increased importance,” said Gina Harman, president and CEO of the ACCION U.S. Network. “This support from Discover will increase our ability to reach business owners in the U.S. with critical loans and financial education.”
ABOUT ACCION in the U.S.
As the largest and only nationwide microlender in the United States, ACCION provides financing and support to the everyday businesses that make local communities and economies thrive. Since 1991, the members of the ACCION U.S. Network have provided over 500,000 enterprising individuals with loans and support, preparing them for sustained success.
By working individually with each customer and considering personal character alongside credit history, ACCION is changing perceptions of what a lending relationship can be. As each of our loans—which average $7,500—helps to create or retain over two jobs, our impact extends beyond the borrower and into the community as a whole.