Mission

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.

History

Launched in San Antonio in 1994, ACCION Texas is a 501(c)(3) nonprofit organization whose mission is to provide loans to small business owners lacking access to commercial credit. ACCION Texas has successfully fulfilled its mission, with 10,000 loans totally over $88 million throughout Texas. Average loan size is approximately $15,000 and a 36 month term. With its corporate headquarters in San Antonio has satellite offices in 10 other Texas cities and makes loans up $100,000. It recently began lending operations in Louisiana.

ACCION Texas is also an SBA 504 Certified Development Company since 1997 and has received both regional and national awards for its SBA 504 portfolio growth. ACCION Texas' expansive growth and success is a direct result of its ability to understand and personally serve very small businesses excluded from mainstream financial services. Borrowers typically have relied on credit cards or expensive and predatory fringe financial services, such as payday loans, check-cashing services, and pawnshops to fund their business endeavors. In many cases, lack of formal financial statements, blemished credit histories, and limited collateral keep these businesses from qualifying for traditional bank credit. ACCION Texas seeks to alleviate these conditions by bridging the credit gap with both a committed social and economic focus.

ACCION Texas' impact on capital access for low and moderate-income families is significant. A loan from ACCION Texas is often the only available source of credit for many of these entrepreneurs. ACCION Texas funding provides small business owners with the ability to purchase inventory, obtain equipment and enhance their working capital. ACCION Texas provides this opportunity to both start up businesses (approximately 55% of all first-time loan dollars disbursed). For many, a small business begins as a necessary second source of household income.