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ACCION TexasACCION Texaswww.acciontexas.orgwww.acciontexas.org
Lending. Supporting. Inspiring.
Shirley BrooksSenior Loan [email protected]
ACCION TexasACCION TexasMissionMission
The mission of ACCION Texas is to provide credit to small businesses that do not have access to loans from commercial sources. Through its loans and services, ACCION Texas helps microentrepreneurs strengthen their businesses, stabilize and increase their incomes, create additional employment and contribute to the economic revitalization of their communities.
ACCION TexasACCION TexasNow Now
ACCION Texas has:– +1,500 active clients
– $77,794,501 disbursed (since ’94)
– 9,549 loans (since ’94)
Petra RosalesOwner,
Porcelain Dolls By Petra and Jorge
San Antonio, March 1994
McAllen, March 1998
Houston, September 1998
Dallas/Fort Worth, January 1999
Brownsville, May 1999
Austin, May 1999
El Paso, August 1999
Corpus Christi, August 2004
Laredo, September 2005
ACCION TexasACCION TexasOfficesOffices
Who we helpWho we help
• We help the small businesses that fall just beneath bank guidelines.
• Credit Score issues
• Start ups and Existing businesses
• ACCION Texas works fast. The loan decision and disbursement process takes between 4-8 days after the loan interview and customer has returned all required information.
ACCION Texas – ProductsACCION Texas – Products
• Loans - $500 to $50,000
• Pronto ACCION Loan – Unsecured loan up to $5000 for those with stronger credit and capacity
• ACCION Loan Officer OK Loans – Loan officer approves loans up to $1000 for businesses that meet ACCION criteria – check in 24-48 hours
• Tandem Loans – ACCION Texas can work with banks to offer additional working capital
• Interest Rates – Based on risk
ACCION TexasACCION TexasExamplesExamples
• $10,000 loan to a taxi-cab driver for a new cab
- Collateral was the vehicle to be purchased
• $50,000 loan to a dentist for business equipment
- Collateral was a rental property
• $25,000 loan to a bakery/restaurant for completing the purchase of the business
- Collateral was personal vehicles along with a blanket lien on current and to be purchased equipment
• $5,000 loan to a florist for walk-in cooler
- Collateral was the business equipment
ACCION Texas PartnershipsACCION Texas Partnerships
• Banks – refer clients they cannot help – also get community reinvestment credit for working with ACCION
• FDIC – sponsor events around the state to introduce ACCION Texas to bankers, businesses, prospective clients
• SBA – provide loan funds to ACCION, and client referrals
• SBDC – provide assistance to small business and then refer to ACCION Texas for funding
• SCORE – Business plans, technical assistance
• Chambers of Commerce – business focus. ACCION can help
• Loan Partners – actively participate in the loan process to include application, document collection, collateral inspection, closing.
ACCION TexasACCION TexasLoan Criteria Loan Criteria
• Character
• Credit history of applicant
• Financial ability to repay
• Commitment and motivation to improve your business
• Commitment and motivation to improve your credit
• Payment history with other creditors, landlords, suppliers, etc.
• Collateral
How to apply for a loanHow to apply for a loan
• Fill out application – available today or apply online at www.acciontexas.org Click “get a loan”
• Provide picture ID – Driver’s license preferred
• We perform automated review of application
• Give client feedback on maximum loan amount and required documents
• Process the loan in San Antonio
• Close the loan along with check
ACCION TexasACCION TexasPhilosophyPhilosophy
Credit, a word which comes from the Latin verb “to believe,” is what ACCION is all about. Giving people credit for who they are and seeing collateral in a person’s character. Believing that people can succeed, and giving them the tools they need to do so.
Moises ReynaOwner, Tienda La Reyna
Contact InformationContact Information
http://www.acciontexas.org
info@acciontexas