Thursday, January 17, 2013

Accion Celebrates Best Year Ever!

It was a monumental year of achievement for Accion San Diego, as we celebrate our best year to date. Here are a few highlights:
  • Dollar amount disbursed was up 82 percent over 2011, with a record breaking $2,073,027 disbursed in 2012 compared to $1,137,052 in 2011. Accion’s previous best year was 2008, when it disbursed $1,741,339.
  • Number of loans made up 69 percent, with 166 loans made compared to 98 in 2011 
  • Loan Portfolio reached $3 million for the first time in the organization’s 18 year history! 
  • First $50,000 loan was disbursed as part of a pilot program 
  • Portfolio quality remains strong as losses in 2012 were low, ensuring that loan money is repaid and recycled back into the community. 
  • Over 500 entrepreneurs were educated at on various small business topics at six Accion hosted training 
  • Over 800 community outreach initiatives were conducted by staff. 
  • Total funding increased over 2011, with notable gifts including a $25,000 grant from the Weingart Foundation and a $600,000 grant from the U.S. Department of Treasury’s Community Development Financial Institutions Fund for the second year in a row. Most of this money will be used for loan capital to directly support entrepreneurs in our community.
  • Staff size and office space are increasing as we are currently hiring and have plans to expand our office space in the next month. This will ultimately boost our capacity to best serve the San Diego entrepreneurial community. 
Accion’s success and growth this past year demonstrates the increasing demand for alternative financing opportunities in our community, as more San Diegans turn to running their own businesses during this time of economic recovery. Every step of the way, we remain committed to empowering hard-working entrepreneurs enabling them to create jobs in our community, increase family incomes and ultimately contribute to the strength of our economy.

See full press release here.

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