Accion East and Online
United States
Last updated December 12, 2012
Status Update - December 12, 2012
Accion East and Online is the new brand name of Accion USA. The change in branding has been reflected throughout the Kiva site and relevant loans.
Partner Description:
Accion East and Online is a nonprofit microfinance organization committed to providing microfinance services to small business owners on the east coast and nationwide via our online lending platfrom. Through its loans and financial education services, borrowers -- often minorities, immigrants and women -- can build assets, better provide for their families and strengthen their communities.
Watch this video to learn more about Accion East and Online and the underbanked in the United States:
As a leader in U.S. microfinance, Accion is committed to bringing affordable small business loans to microentrepreneurs. Accion has provided over $132 million in over 20,000 microloans since its inception in 1991, helping to grow small businesses and strengthen the communities they serve. Its lending model is the product of 45 years of Accion experience in providing credit to low-to-moderate income individuals worldwide, customized to meet the unique needs of microbusinesses operating in the United States.
The need for microloans in the United States:
In the U.S., where over 10 million microentrepreneurs operate, many small businesses lack access to traditional bank credit because their loan requests are too small, their length of time in business is too short, or they operate in an industry that banks typically do not consider like home-based sales.
The face of U.S. microfinance is familiar -- Accion East and Online’s borrowers range from the owner of your favorite local restaurant to your child’s home-based daycare provider to the operator of a larger trucking company. While their financial and ethnic backgrounds may differ, they all share the challenge of insufficient access to small business loans.
Microlending’s impact in the United States:
1) Contribute to job creation: Each loan that Accion East and Online provides contributes to the creation or retention of 3.5 jobs (not including that of the borrower), predominantly in low-to-moderate income communities.
2) Increase wages in low-to-moderate income communities: The median hourly wage provided by businesses owned by Accion East and Online borrowers is 24% higher than the federal minimum wage.
3) Improve business survival: 98% of existing businesses were still in business by year-end 2008 (compared to a national average of 70%).
Loan products and services:
Accion East and Online is responding to the immediate financial crisis by supporting struggling small businesses with loans and with business development and credit training services. Its loan consultants work one-on-one with borrowers to provide:
1) Small business microloans that average $7,000
2) One-on-one credit and business education and assistance
3) Financial education via one-on-one consultations, in addition to online resources and community workshops
Learn More:
Visit Accion East and Online’s website: www.accionusa.org
Join the organization’s lending team: Accion East and Online Lending Team
Become a fan: Visit the Facebook page
Stay informed: Subscribe to the blog
Interested in a loan? Visit the loan product information page online to learn more.
Status Update - September 11, 2011
As part of an ongoing effort to fully migrate risk ratings to our new and enhanced risk rating system, Kiva has conducted a re-assessment of the level of risk posed by this institution. During this re-assessment, our analysts were able to gather updated operational and financial information about the institution, as well as speak with key members of the staff.
Kiva's new risk rating system, which now includes half stars, has enabled us to display Accion East and Online’s risk rating with a higher level of granularity. As a result, Accion East and Online’s risk rating will now be displayed as 3.5 stars instead of 4 stars.
We have prepared a blog post with more information on Kiva's new and enhanced risk rating system, along with a chart showing the relative magnitude of the overall changes for Kiva's portfolio. Accion East and Online has been informed of the change in the display of their rating on Kiva's website.
Status Update - December 12, 2012
Accion East and Online is the new brand name of Accion USA. The change in branding has been reflected throughout the Kiva site and relevant loans.
Partner Description:
Accion East and Online is a nonprofit microfinance organization committed to providing microfinance services to small business owners on the east coast and nationwide via our online lending platfrom. Through its loans and financial education services, borrowers -- often minorities, immigrants and women -- can build assets, better provide for their families and strengthen their communities.
Watch this video to learn more about Accion East and Online and the underbanked in the United States:
As a leader in U.S. microfinance, Accion is committed to bringing affordable small business loans to microentrepreneurs. Accion has provided over $132 million in over 20,000 microloans since its inception in 1991, helping to grow small businesses and strengthen the communities they serve. Its lending model is the product of 45 years of Accion experience in providing credit to low-to-moderate income individuals worldwide, customized to meet the unique needs of microbusinesses operating in the United States.
The need for microloans in the United States:
In the U.S., where over 10 million microentrepreneurs operate, many small businesses lack access to traditional bank credit because their loan requests are too small, their length of time in business is too short, or they operate in an industry that banks typically do not consider like home-based sales.
The face of U.S. microfinance is familiar -- Accion East and Online’s borrowers range from the owner of your favorite local restaurant to your child’s home-based daycare provider to the operator of a larger trucking company. While their financial and ethnic backgrounds may differ, they all share the challenge of insufficient access to small business loans.
Microlending’s impact in the United States:
1) Contribute to job creation: Each loan that Accion East and Online provides contributes to the creation or retention of 3.5 jobs (not including that of the borrower), predominantly in low-to-moderate income communities.
2) Increase wages in low-to-moderate income communities: The median hourly wage provided by businesses owned by Accion East and Online borrowers is 24% higher than the federal minimum wage.
3) Improve business survival: 98% of existing businesses were still in business by year-end 2008 (compared to a national average of 70%).
Loan products and services:
Accion East and Online is responding to the immediate financial crisis by supporting struggling small businesses with loans and with business development and credit training services. Its loan consultants work one-on-one with borrowers to provide:
1) Small business microloans that average $7,000
2) One-on-one credit and business education and assistance
3) Financial education via one-on-one consultations, in addition to online resources and community workshops
Learn More:
Visit Accion East and Online’s website: www.accionusa.org
Join the organization’s lending team: Accion East and Online Lending Team
Become a fan: Visit the Facebook page
Stay informed: Subscribe to the blog
Interested in a loan? Visit the loan product information page online to learn more.
Status Update - September 11, 2011
As part of an ongoing effort to fully migrate risk ratings to our new and enhanced risk rating system, Kiva has conducted a re-assessment of the level of risk posed by this institution. During this re-assessment, our analysts were able to gather updated operational and financial information about the institution, as well as speak with key members of the staff.
Kiva's new risk rating system, which now includes half stars, has enabled us to display Accion East and Online’s risk rating with a higher level of granularity. As a result, Accion East and Online’s risk rating will now be displayed as 3.5 stars instead of 4 stars.
We have prepared a blog post with more information on Kiva's new and enhanced risk rating system, along with a chart showing the relative magnitude of the overall changes for Kiva's portfolio. Accion East and Online has been informed of the change in the display of their rating on Kiva's website.
Repayment Performance on Kiva
Repayment Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Start Date On Kiva | Jun 10, 2009 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $2,117,000 | $426,910,600 | |
| Amount of Raised Inactive Loans | $0 | $238,825 | |
| Number Of Raised Inactive Loans | 0 | 207 | |
| Amount of Paying Back Loans | $1,320,150 | $94,248,000 | |
| Number Of Paying Back Loans | 237 | 101,761 | |
| Amount of Ended Loans | $796,850 | $332,423,775 | |
| Number Of Ended Loans | 169 | 435,945 | |
| Delinquency Rate | 1.02% | 1.89% | |
| Amount In Arrears | $8,334 | $1,148,081 | |
| Outstanding Portfolio | $814,751 | $60,666,465 | |
| Number of Loans Delinquent | 20 | 8,937 | |
| Default Rate | 6.11% | 0.97% | |
| Amount of Ended Loans Defaulted | $48,721 | $3,220,059 | |
| Amount of Ended Loans | $796,850 | $332,423,775 | |
| Number Of Ended Loans Defaulted | 19 | 9,823 | |
| Currency Exchange Loss Rate | 0.00% | 0.02% | |
| Amount of Currency Exchange Loss | $0 | $77,435 | |
| Refund Rate | 1.17% | 0.95% | |
| Amount of Refunded Loans | $24,800 | $4,068,925 | |
| Number Of Refunded Loans | 4 | 4,589 |
Loan Characteristics On Kiva
Loan Characteristics On Kiva| This Field Partner | All Kiva Partners | ||
| Loans To Women Entrepreneurs | 35.98% | 74.04% | |
|---|---|---|---|
| Average Loan Size | $5,199 | $407 | |
| Average Individual Loan Size | $5,226 | $646 | |
| Average Group Loan Size | $4,738 | $1,744 | |
| Average Number Of Entrepreneurs Per Group | 2 | 8 | |
| Average GDP Per Capita (PPP) in Local Country | $47,000 | $3,346 | |
| Average Loan Size / GDP Per Capita (PPP) | 11.06% | 12.17% | |
| Average Time To Fund A Loan | 7.66 days | 4.68 days | |
| Average Dollars Raised Per Day Per Loan | $678.77 | $87.00 | |
| Average Loan Term | 21.71 months | 9.61 months |
Journaling Performance on Kiva
Journaling Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Total Journals | 99 | 203,888 | |
|---|---|---|---|
| Journaling Rate | 36.31% | 39.99% | |
| Average Number Of Comments Per Journal | 0.44 | 0.11 | |
| Average Number Of Recommendations Per Journal | 3.48 | 2.72 |
Borrowing Cost Comparison (based on 2011 data)
Borrowing Cost Comparison (based on 2011 data)| This Field Partner | Median for MFI Peers in Country | All Kiva Partners | ||
| Portfolio Yield | 14.00% | 9.90% | 35.13% | |
|---|---|---|---|---|
| Profitability (Return on Assets) | -29.5% | -12.4% | -0.15% | |
| Average Loan Size (% of Per Capita Income) | 13.80% | 23.90% | 47.07% |
Country Fast Facts
Country Fast Facts- Country:
- United States
- Capital:
- Washington, DC
- Official Language:
- Languages Spoken (2000 census): English 82.1% Spanish 10.7% Other Indo-European 3.8% Asian and Pacific island 2.7% other 0.7%
- Population:
- 307,212,123
- Avg Annual Income:
- $47,000
- Labor Force:
- Farming, Forestry, and Fishing: 0.6% Manufacturing, Extraction, Transportation, and Crafts: 22.6% Managerial, Professional, and Technical: 35.5% Sales and Office:24.8% Other Services: 16.5%
- Population Below Poverty Line:
- 12.5%
- Literacy Rate:
- 99%
- Infant Mortality Rate (per 1000):
- 6.26 deaths
- Life Expectancy:
- 78.11 years
Field Partner Staff
Lilliam AriasNeil Boss
Elizabeth Bueno
Libardo Clavijo
Erica Dorn
Carmen Duperon
Lily Leavitt
Charlotte Makoff
Allie Mills
Karla Pineda
Paul Quintero
Melissa Roberts
Kelly Rodriguez
Magaly Santiago
Jennifer Spaziano
Lauren Yothers