TO OUR SUPPORTERS

Paul Quintero

CEO
Accion Serving the East Coast

Dennis Lagueux

Board Chair
Accion Serving the East Coast

DEAR FRIENDS, PARTNERS AND SUPPORTERS,

In 2017 and the beginning of 2018, we made investments for growth, planting the strategic seeds to harvest mission growth. This began with our five-year growth plan to grow our lending, scaling our reach to the least served populations. We also launched a cloud-based platform to improve productivity, thus better serving our clients’ needs. Finally, we redesigned our SBA Community Advantage program, improving turnaround time and positioning us for growth through 2020 and beyond.

In 2018, we deepened our mission impact with the launch of the Entrepreneurs of Color Fund program in July and the Childcare Provider Initiative in October. Through the Entrepreneurs of Color Fund, we supported nearly 100 minority entrepreneurs in the South Bronx with over $1 million in capital.

The Childcare Provider Initiative enabled us to provide $1.3 million to over 100 childcare providers, predominantly women of color in the South Bronx. These women were able to grow their businesses to create a triple social return within their communities through providing early childcare education, enabling parents to participate in the workforce, and providing local jobs.

At $14.8 million, our portfolio is the largest and healthiest it has been in a decade. Our loans are reaching entrepreneurs with limited access to capital and financial education, creating economic opportunity for our clients.

As our investments bear fruit, we continue to make enhancements for future mission momentum. This includes expanding our Childcare Provider Initiative to other East Coast markets, growing our SBA Community Advantage program, and launching a campaign to raise debt capital to sustain the expected growth through 2020. The mission acorns planted today will become a tall forest of impact tomorrow.

On behalf of Accion East, we want to thank you for your support of our mission. Your support literally makes all our work possible and together, we will continue growing our mission skyward.

Yours in continuously reaching,

PAUL QUINTERO

CEO
Accion Serving the East Coast

DENNIS LAGUEUX

Board Chair
Accion Serving the East Coast

ADDRESSING UNEQUAL ACCESS TO OPPORTUNITY

22% ≠ 7%
Low-income areas are home to 22 percent of workers, but only 7 percent of businesses with employees.

32% ≠ 12%
Minority business owners are denied loans 32 percent of the time, compared to 12 percent for non-minority business owners.

56% ≠ 100%
Women start their businesses with only 56 percent as much financial capital as men.

10% ≠ 100%
Hispanic and black Americans have levels of net worth that are only 10 percent of those held by white Americans.

95% & 87%
95 percent of African American and 87 percent of Latino middle-class families do not have enough net assets to meet most of their essential living expenses for even three months if their source of income were to disappear.

“I believe that if you have a dream, you should dedicate yourself to the end. I’m always looking for the
best way to help and improve my community. With my loan from Accion, I was able to open my
third location and hire more employees.”
—Angel Benitez, Burbowl, Miami, Florida

OUR MODEL

IT STARTS WITH BRIDGING THE GAP

“Our loan consultant went through the process with us step by step. She made us feel really comfortable. Whenever I was nervous about asking a question, she would just put me at ease.”
—Paula Dunbar, Paper Fiesta, Natick, Massachusetts

2018 IN NUMBERS

COMMUNITY ADVANTAGE PROGRAM

IT STARTS WITH SUPPORTING STOREFRONTS

CHILDCARE PROVIDER INITIATIVE

IT STARTS WITH NEEDS-BASED INNOVATION

Hear Elizabeth and Olean tell their story:

BREWING THE AMERICAN DREAM

IT STARTS WITH AN INVALUABLE PARTNERSHIP

A NEW LENDING PLATFORM

IT STARTS WITH INVESTING IN CAPACITY

ENTREPRENEURS OF COLOR FUND

IT STARTS WITH INVESTING IN UNLOCKED OPPORTUNITY

NEW ENGLAND SBA MICROLENDER OF THE YEAR

IT STARTS WITH A PUBLIC-PRIVATE COLLABORATION

15 YEARS IN FLORIDA

IT STARTS WITH PLANTING LOCAL ROOTS

OUR CLIENTS

In 2018, we served a greater percentage of minorities, immigrants, and women by helping them start, stabilize, and expand their businesses.

65%
of our clients were considered low- to moderate- income

77%
of our clients identified as racial or ethnic minorities (18% growth since 2013)

46%
of our clients were women (13% growth since 2013)

We served small business owners in 41 states from three crucial markets along the East Coast as well as remotely throughout the country.

40%
of our clients were located in New York

23%
of our clients were located in Florida

21%
of our clients were located in New England

16%
of our clients were located in various other states throughout the U.S.

OUR IMPACT

With the help of Accion:

“My employees and I are like a family. They come from all over the world. Having their own business is their dream as well, and I’m able to show them how to do it. When we transitioned to a new location, our loan from Accion enabled us to renovate the space. Accion believed in us and gave us the opportunity to grow. We now have more space, more people, and more energy.”
—Tania Jauregui, Nitin Bakery, Miami, Florida

IT STARTS WITH A STRONG FINANCIAL POSITION

Financials

IT STARTS WITH VALUES

Accion is guided by six core values that define our mission:

ADAPTABILITY
We are innovators; we continually improve ourselves and our world. We take risks to do so.

DEDICATION
We give 100% at all times. We are committed to Accion, our mission and our clients.

EMPATHY
We walk in others’ shoes. We know that true understanding must occur at an emotional and intellectual level.



INCLUSION
We create community. We value the contributions of every person.

INTEGRITY
We earn trust by making promises – and keeping them.

PASSION
We are proud about being Accionistas; we work to honor our values in everything we do.

2018 DONORS AND PARTNERS

Institutional Partners
$500,00 and above
  • JPMorgan Chase Foundation
  • U.S. Small Business Administration
$200,000-$499,999
  • The Clark Foundation
  • New York City Council
  • Santander Bank, N.A.
  • TD Charitable Foundation
  • Wells Fargo Foundation
$100,000-$199,999
  • Bank of America Charitable Foundation
  • The Boston Beer Company*
  • Citi
  • The Coca-Cola Company*
  • Robin Hood Foundation
$50,000-$99,999
  • Anonymous
  • Capital One
  • Empire State Development
  • FedEx*
  • Fifth Third Bank*
  • Massachusetts Growth Capital Corporation
  • Morgan Stanley

 

$25,000-$49,999
  • Bank United
  • Bernard F. & Alva B. Gimbel Foundation
  • Deutsche Bank Americas Foundation
  • Goldman Sachs UIG
  • HSBC Bank USA, N.A.
  • Mizuho USA Foundation, Inc.
  • TIAA Bank
$10,000-$24,999
  • Amerant Bank, N.A.
  • Apple Bank
  • Bank OZK
  • Blue Hills Bank Charitable Foundation
  • BNB Bank
  • Edward & Ellen Roche Relief Foundation
  • HAB Bank
  • The Hartford*
  • The Miami Foundation
  • MUFG Foundation
  • PIMCO Foundation
  • Sterling National Bank
  • SunTrust Bank Foundation

 

$5,000-$9,999
  • BTQ Financial
  • Credit Suisse Americas Foundation
  • City National Bank
  • First Republic Bank
  • The Moody’s Foundation
  • People’s United Bank Foundation
  • Popular Foundation
$1,000-$4,999
  • Bank Leumi
  • Boston Private Bank & Trust Company
  • Cambridge Savings Bank
  • Concord Advisory Group
  • Eastern Bank Charitable Foundation
  • Goldman Sachs
  • New York Community Bank Foundation
  • Ponce Bank
  • Signature Bank
*In partnership with the U.S. Accion Network

Individual Donors
CEO Circle ($25,000+)
  • Anonymous
  • Lynn & Jonah Kaufman
  • The O’Shea Family Foundation
Innovator ($10,000-$24,999)
  • Anonymous
  • The Harman Family Foundation
  • The Rita J. & Stanley H. Kaplan Family Foundation
  • Paul & Marieta Quintero
Job Creator ($5,000-$9,999)
  • Anonymous
  • Sherman Carll
  • Peter Cureton
  • Michael and Claudine Henry
  • Kimberly Johnson
  • Laura Miller**
  • Eva Greger Morse
  • Moses Kimball Fund
  • Cheryl Myers & Steve Stockton**
  • Patrick Peterson & Shirley Tsai
  • Noel Pittman
Accelerator ($2,500-$4,999)
  • The Paul & Edith Babson Foundation
  • Benjamin & Susan Baxt
  • Anna Dodson
  • Victoria Felix & John DeWees
  • Thomas & Susana McDermott
  • Michael & Anne Marie Mlecko
  • Joan Morningstar & Timothy Lynes
Accionista ($1,000-$2,499)
  • Alger Candlelight Giving Program
  • Barbara Brooks
  • Raschelle Burton
  • Jeff Cady
  • Rushil Desai
  • The Friedman Family Foundation
  • Michael Friedson
  • Colleen Galvin
  • Sudhir Jain
  • Kristin Kraska
  • Dennis Lagueux
  • Mark Meachen
  • Edith Moricz & Alan Cody
  • Roshelle Nagar
  • William Popeleski, Jr.
  • Lara Porter
  • Ilya Scheidwasser
  • Lisa Servon
  • Vikram Shankar
  • Cristina Shapiro**
  • James Shields
  • Tyler Van Gundy
$500-$999
  • Jean Aldwell
  • Michael Carnahan
  • Rachael Deutsch
  • Leslie Edwards
  • Russell & Linde Gee
  • Jill Goldenberg
  • Ana Hammock & Jeffrey Isen
  • Mike Lake**
  • Henry & Cathy Lanier
  • Melinda Marbes
  • Mark McLoughlin
  • Mia & Stephen Parker
  • Paul Redstone
  • Christina Reichert
  • Anand Savur
  • Alex Schukin**
  • Janet & Malcolm Thompson
  • Matteo Tinari
  • Nancy Truitt
  • Diana Waterbury
  • Penny Weeks
  • Ashley Wessier & Sherri Lane
  • Jenny Yescher**
$100-$499
  • Sean Berry
  • Shirley Blancke
  • Pamela Booth
  • Harold & Cindy Brockman
  • Colin Bryan
  • Jane Campbell
  • Anne Cerami
  • Rodrigo Cerveira
  • Robert Chesley
  • Laura Cofino
  • Jessica Daniels
  • Daniel Delehanty
  • Elenor & Richard Denker
  • Nicolas Diener
  • Estelle Disch
  • Paul Dominguez
  • Seena Dundes
  • Paula Easton
  • Anne Fish
  • Kevin Fisher
  • Elizabeth Fleming
  • Todd Flolo
  • Adam Grenier
  • Charlotte Gross
  • Maria Hermida
  • Joseph Hernandez
  • John Hickle
  • Lydie Hudson
  • Paul Hunt**
  • Jim Kiewel
  • Evan Kramer
  • Wendy and Steve Lane
  • Paul Lipsky
  • Alex Lue
 
  • Rosanna Mason
  • Vidula Menon & Chris Dayer
  • Robert Moylan
  • Sarah Mulholland
  • Amy O'Brien
  • Christina O’Connell
  • Christopher Olmstead
  • Robin Paltis
  • Mark Pavlin
  • Michael Perez
  • Robert Pettit
  • Kurt Raaflaub
  • Audrey Rice
  • Michael Rifkind
  • Rudy Rodriguez
  • Erin Rowe
  • Peter Salas
  • Clara Sanchez
  • Karen Schmitt
  • Risa Sherman
  • Laura Singer
  • JJ Singh
  • Gail Smith
  • Steve Taylor
  • Lawrence Turyn
  • Tyler Van Gundy
  • Leland Watson
  • Jerry Weiss
  • Thomas Wersto
  • James & Anita Wessier
  • Aimee White
  • James Wong
  • Bernhardt Wruble
  • Lauren Zollo
**Monthly sustainers

The Janet Thompson Society
  • Janet Thompson
  • Faye M. Chandler
  • The Estate of Chaninah Maschler
The Janet Thompson Society honors and recognizes those loyal supporters who are helping to ensure families have access to the financial tools they need to achieve economic security through planned giving.
Investing Partners
  • Joel Abrams
  • Bank of America Community Development Corporation
  • Richard L. Berman
  • Boston Impact Initiative
  • Capital One
  • City National Bank
  • Mr. and Mrs. Joseph P. & Patricia K. Crowley
  • Eastern Bank
  • Empire State Development
  • Lynn M. Gerber Trust
  • Karuna Trust
 
  • Audrey Larrimer
  • Katherine Perls Trust
  • RBS Citizens Bank
  • Eric & Hannah Sachs Foundation
  • Shield-Ayres Foundation
  • Society of Catholic Medical Missionaries
  • TD Bank
  • U.S. Small Business Administration
  • Jonathan Woodbridge
  • Woodlands Investment Management-Loring Wolcott

IT STARTS WITH YOU



You make our work possible through your partnership and support. Donate and be the start of something today.