CHICAGO | Accion, a nonprofit microfinance
leader, has increased the volume of small business loans available at
lower interest rates in Northwest Indiana through a partnership with the
U.S. Small Business Administration (SBA).
Small business owners
and bankers are invited to attend the grand launch of this program on
June 26 to learn more about Accion small business loan eligibility. The
event will be an open house hosted by the Northwest Indiana Small
Business Development Center (SBDC) in Crown Point, IN, Accion’s local
business education partner.
Effective May 2012, Accion is now an
SBA Microlender Intermediary in Indiana, which allows it to make small
business loans at rates as low as 8.87% for qualified borrowers.
SBA’s Microloan Program was developed to increase the availability of
smaller business loans to prospective small business borrowers. Under
this program, the SBA makes funds available to nonprofit intermediaries,
like Accion, which in turn make loans to eligible borrowers.
makes loans from $500 to $50,000 in Lake County and Porter County to
existing and start-up small businesses that have been unable to get bank
financing. In an effort to increase small business success in Lake and
Porter counties, Accion expanded its services into Indiana in 2008.
Since that time, Accion has accomplished steady growth, providing 30
small business loans totaling $210,846 by the end of 2011.
does not matter what your profits are, if you do not have enough capital
and your business is under-funded, you can fall into some hard times,”
said George Huskisson, owner of Hammond Fence of Indiana, Inc, and an
Accion client. “My Accion loan could not have come at a better time.”
When: 8:30 a.m.-10:00
a.m. Tuesday, June 26th
Indiana SBDC: 9800 Connecticut Drive Crown Point, IN
Indiana SBDC, Accion, and the SBA district office
Food: Continental breakfast provided (complimentary)
Please contact Liz Dwyer
with additional questions or media interest.