Accion SBA Microloan Program
Accion
Florida
U.S. CITIzens and residents
Coming Soon
Accion is the largest nationwide nonprofit lending network in the United States. They provide fair and flexible loans, connections to business experts, and access to resources and opportunities specifically tailored to each business owner’s unique needs and goals. In response to COVID-19, Accion has compiled financial resources to help small business owners make ends meet during this economic crisis. They continue their focus on providing entrepreneurs flexible capital and other valuable resources.
Benefits
- Currently reviewing loan amount, terms and payment case by case
- 7.75% to 15.99% interest
- Less than 2 weeks to process
- These loans can be used for working capital, to purchase inventory, for equipment and other hard assets, for short-term business training, for promotions and advertising, to retire existing business debt, or for the purchase of an existing business
- No prepay penalty or cumulative interest payment for early pay off
- Providing financial education and assisting businesses to be ready for future loan repayments
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Eligibility
- Small businesses with requirements that are not real estate or non-profit
- Credit score above 575
- No bankruptcy in the last 12 months
- No foreclosures in the past 24 months
- No late payments on personal or business mortgage or rent in past 12 months
- Less than $3,000 combined past due debt
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