NORTH LITTLE ROCK, AR – ACCIÓN Arkansas, an extension of micro lending leader ACCIÓN Texas celebrated the launch of its lending operations in Arkansas Wednesday, November 30.
The grand-opening ceremony featured federal, state and local officials, including North Little Rock Mayor Patrick Hays, Christopher Masingill, Delta Regional Authority Federal Co-Chairman, Bob Nash, former Head of Personnel for the White House in the Clinton Administration, Linda Nelson, District Director, U.S. Small Business Administration, Bill Sabin, ACCIÓN Chief Lending Officer and ACCIÓN President & CEO Janie Barrera.
Barrera is set to be appointed by President Barack Obama to the President's Advisory Council on Financial Capability, addressed participants about the potential financial and jobs impact of having the nation's leading microlender in its community.
ACCIÓN, which means action in Spanish, applied its idea from ACCIÓN International a successful micro lending organization in Latin America to see if its concept could also work in the U.S. Four years later ACCIÓN opened on heavily populated Hispanic cities in the United States.
ACCIÓN Arkansas, an extension of ACCIÓN Texas Inc., is the largest non-profit microlender in the United States that offers small business loans for entrepreneurs and companies that may have weaker credit scores or other limits to traditional bank loans.
Established in 1994 in San Antonio, ACCIÓN helps entrepreneurs strengthen their businesses, stabilize and increase their incomes, create employment, and contribute to the economic revitalization of their communities.
Janie Barrera told Hola! Arkansas that her organization works with the U.S. Small Business Administration and other banking outfits to help clients that fit her company’s target profile. “Our typical customer may only have a credit score in the 575 range,” she said, noting that a traditional bank is typically prohibited from lending to individuals with credit scores
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