ACCION Texas' mission is to provide credit to small businesses that do not have access to loans from commercial sources. Through our loans and services, we help micro entrepreneurs strengthen their businesses, stabilize and increase their incomes, create additional employment and contribute to the economic revitalization of their communities.
- ACCION Texas Products
- Individual Business Loans from $500 to $100,000
- Business line of credit from $5000 to $50,000 for established businesses with 2 year financial history
- Start Up Business Loans to qualified business owners
- Loans to Immigrants with I-TIN: loans for individuals with businesses who have Tax Identification Number issued by IRS and reside in Texas, but not US citizens
- Credit Start Loans: Obtain a $500 loan to establish your first trade line on credit history
- Pronto Loans: Unsecure loans from $500 to $5000 with disbursement of loan within 24 hours
- SBA 504 Loans: Loans from $200,000 to $4,000,000 for qualified businesses
- Client occupations range from technological consultants to taxi drivers, construction contractors, day care providers, restaurant owners, and many other storefront and home-based businesses that require working capital.
- Under half of clients (46%) have been in business for less than one year, close to a third (32%) have been in business 3 years or longer. The median asset level of clients' businesses is approximately $6,000.
- 67% of clients identify themselves as Hispanic, 16% are African-American and 14% are Anglo-American. Women comprise 46% of borrowers.
- Clients of ACCION Texas typically have lower than average incomes, with median household income of $29,616 as compared to Texas median of $41,994 in 2000.
- Between 1994 and 2008, ACCION Texas made $76.4 million in loans which produced $142.6 million in new economic activity. This represent a 60 percent social return on investment - every dollar loaned creates an average of 60 cents annually in new economic activity.
- After three loans with ACCION Texas, clients increase business equity by 22%, bring in 67% more in monthly business profits and increase take home pay by 44%.
- ACCION borrowers created over 1,800 new jobs and sustained over 4,000 between June 1994 and 2008.
- ACCION Texas makes a loan every two hours somewhere in Texas.
As a young single mother, Arga wanted a way to make positive impact on her family and community. She knew that opening her own business, a natural organic food restaurant and nutritional store, would bring that much needed change to her life, not simply in terms of household income but also in improved health and nutrition for her family as well as the community. Sunfired Foods was born and a $13,000 initial loan from ACCION Texas was used for working capital. Subsequent loans have been provided to build the business and fufill her committment to providing members of her community with healthy and nutritional products traditionally unavailable to low-income individuals. Full Story