Accion believes that thriving small businesses are the foundation for a strong local economy and our lending program continues to ensure that entrepreneurs have access to the tools they need to start or grow their enterprises and remain sustainable in the current economy.
Our client base reflects our community's rich diversity. Approximately 60% of Accion San Diego borrowers identify as part of an ethnic minority group, and 43% of our clients are women. Both of these groups have historically faced barriers in obtaining business financing from traditional sources such as banks and credit unions. Accion San Diego is proud to provide an alternative lending opportunity for these hard-working entrepreneurs.
By providing micro-loans ranging from $300-$50,000, we enable our clients to increase their inventory, buy equipment or raw materials, and pursue new business opportunies. We also help our clients build favorable credit histories and improve their business skills through training events.
Hear directly from our clients the impact we are making in their businesses:
Since our inception in 1994, Accion San Diego has disbursed over 2,700 loans in excess of $17 million to more than 1,700 clients.
Our average loan size is approximately $10,000 and historically our loss and delinquency ratios stand at approximately 7.5%.