Thursday, April 12, 2012

Accion, NYSE & The Big StartUp

On Wednesday, March 21st an Accion client and a team of staff from the Accion US Network rang the closing bell at the New York Stock Exchange (NYSE). This moment marked an inspiring launch for a new nationwide jobs-growth initiative, The NYSE Big StartUp.

The program connects young companies and entrepreneurs with corporate America for funding and support with the ultimate goal of fueling job creation across the nation. “America is looking for ways to create jobs and we believe part of the answer lies in nurturing the small business community,” said Duncan L. Niederauer, Chief Executive Officer of NYSE Euronext.

The NYSE Big StartUp will help small businesses and startups across the country by calling on the nation’s corporate community to lend support, experience and resources. So far Yelp, LinkedIn, and Microsoft have joined and are sharing valuable resources to help grow America’s small businesses. The program also includes a microfinance component called the Accion NYSE Job Growth Fund to provide small businesses and startups with the capital they need to thrive.  NYSE Euronext has committed $1.5 million to the Accion US Network to help fund the work Accion is already doing.

As part of the US Network, Accion San Diego will receive a portion of this funding to help drive our local lending programs.  The extra funding will help Accion service more loans and increase our outreach efforts to additional entrepreneurs with services.  Ultimately, we hope that this program will boost the local economy by helping businesses grow through more access to capital and receiving resources from larger corporations. We look forward to all the new loans this program will bring!

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