$2.75 Million Awardee
ACCION Texas, a statewide organization based out of San Antonio, Texas, is using its 2007 $2.75 million prize to extend its micro lending reach and to grow its business partnerships outside of Texas. ACCION Texas uses an automated underwriting system and business model to distinguish itself in a challenging financial segment, providing credit to small businesses that do not have access to loans from commercial sources. The organization makes business loans from $500 to $50,000 for working capital, equipment purchase, inventory and other business needs. ACCION Texas has distributed over $58 million in more than 8,100 loans to clients in Texas, helping micro-entrepreneurs strengthen their businesses, stabilize their incomes, create additional employment and contribute to the economic revitalization of their communities. ACCION Texas has 12 offices in ten cities and serves clients in over 80 counties throughout Texas. “When I first read the application and criteria – I said, that’s us! – there was no doubt in my mind!” said Janie Barrera, CEO of ACCION TEXAS, and recipient of the 2007 $2.75 million award.