ACCION East is different from a bank or credit union.
ACCION East is a microfinance organization that lends with the mission of empowering business owners with access to working capital and financial education across the United States.
ACCION East offers business loans up to $50,000 and financial education throughout the United States.
Since 1991, they have specialized in working with small business owners who cannot borrow from the bank due to business type, a short length of time in business, or an insufficient credit history.
Loan Overview – Business Loans up to $50,000: for established, profitable businesses Review requirements – Start-Up Loans up to $30,000: for businesses with 6 or more months in operation, but that are not yet profitable Review requirements – Transition Business Loans up to $30,000: for the purchase of an existing business or a change in business location Review requirements INTEREST RATES, TERMS, AND FEES – Loan terms up to 60 months – Installment and balloon types offered – Competitive, fixed annual interest rates from 8.99% to 15.99% – Closing costs of 3% to 5% of the loan amount (minimum of $100) and a $30 application fee will be financed into your loan.
Address: 80 Maiden Lane, Suite 903
City: New York
State: New York