Angel Partners
BYU Center for Economic Self-Reliance
International Distribution for Small Fortunes provided by APT Worldwide

Organization Profile & Updates


Quick Facts
Type of Organization: Nonprofit
Founder: ACCION International
Year of First Loan: 1991
Total Borrowers through 2004: 6,381
Current Borrowers (2004): 1,433
Women Borrowers: 40%
Low-Income Borrowers: 55%
Minority Borrowers: 95%
Total Funds Loaned: $39,244,311
Loan Portfolio (2004): $10.669.007

ACCION New York

115 East 23rd Street, 7th Floor
New York, NY 10010
USA

info@accionnewyork.org
http://www.accionnewyork.org

tel.: (212) 387-0377
fax: (212) 387-0277



Overview
ACCION New York provides microloans and business advisory services to individuals and small businesses that do not have access to traditional sources of credit in the New York metropolitan region. Historically, 95 percent of their borrowers are minorities, almost all immigrants, and 40 percent are women. One out of every five New Yorkers and one out of every three children lives below the poverty level. Because low wage employment is often unattractive (low pay, few benefits, little personal and financial growth) many of these New Yorkers begin businesses to support their families or to supplement their other sources of income. However, with no or poor credit history they are unable to access formal credit mechanisms.

Total Loans Made: 6,371
Total Amount Disbursed: $40,234,614

Year Amount Disbursed Active Portfolio Active Clients Average Loan Size % of Women Clients
2004 $10,272,071 $10,675,444 1,433 $9,415 40%
2003 $6,075,290 $7,003,413 1,065 $8,882 38%
2002 $6,292,944 $5,840,449 997 $8,248 39%
2001 $5,276,903 $4,821,829 984 $7,189 37%
2000 $3,572,993 $2,864,536 647 $5,829 36%
1999 $1,624,847 $1,187,000 342 $4,616 34%
1998 $1,301,415 $952,089 266 $4,582 33%
1997 $1,407,250 $888,414 344 $3,073 34%
1996 $1,982,350 $1,362,279 468 $4,165 38%
1995 $1,312,400 $878,081 415 $2,712 45%
1994 $548,300 $316,143 141 $3,323 35%

U.S. ACCION Network
ACCION New York is a fully independent non-profit and a member of the US ACCION Network. The U.S. ACCION Network operates in eight states and has provided over $110 million in microloans to over 16,000 borrowers since 1991.