Micro-Lending for Small Businessess
Entrepreneurs have passion and drive, but don’t necessarily have the capital to get their businesses off the ground, and may not qualify for loans with traditional banks. Fortunately there is the nonprofit Accion, which provides access to business credit, makes loans between $200 and $500,000, and offers training for small business owners to get started or expand. Ripple worked with this incredible organization to raise awareness about their efforts in Colorado, where they have provided loans totaling more than $8.2 million to some 608 small businesses across the state, leading to the creation of over 1,200 jobs. We invited press to a luncheon the organization hosted at the Federal Reserve in Denver, with speakers that included the Chair of the American Bankers Association, the President of the Gates Family Foundation, the President of Accion International, and one of Accion’s clients, who attributes the success of her business to a loan that she received from Accion. The result was two very positive and high-profile stories about the organization’s work in the Denver Post and the Denver Business Journal. Bravo Accion! Thanks for making a huge difference in people’s lives and in the economy at large.