ACCION International, a world pioneer in microfinance, is a private nonprofit organization with the mission of giving people the financial tools they need including microenterprise loans, business training and other financial services to help them work their way out of poverty.
It was founded in 1961 and issued its first microloan in 1973 in Brazil. Over time, the organization has helped build 62 microfinance institutions in 31 countries on four continents. Those institutions are currently reaching millions of clients. In the United States, the U.S. ACCION Network is the largest microfinance lending network in the country and has served tens of thousands of clients with over $275 million in loans since the inception of its pilot program in 1991.
ACCION International is an innovator in financial access, pioneering many of the best practices and emerging standards in the industry providing a full range of management services, technical assistance and training, as well as investment and governance support to help financial institutions build institutional capacity and financial strength. In addition, ACCION International has created and continues to develop leading products and services that bridge the divide between commercial finance institutions and the working poor. Their business solutions focus on radically enhancing efficiency and increasing versatility through product and delivery channel diversification.
ACCION International also provides support in the form of investment to micro finance institutions, helping them to build upon its other services and linking them with commercial banks and capital markets. Through equity and quasi-equity investments, as well as loan guarantees, it enables MFIs to strengthen core systems, access innovations, attract deposits, become independent of donor funds and establish financial leverage.
For more information please visit ACCION International website, www.accion.org.