TOMORROW 4/30 – Tweet to win $1 million for #microfinance
Dear supporters and microfinance enthusiasts,
Tomorrow, Friday April 30th you can support ACCION USA’s work in a very simple way—you tweet! Whether you’ve been hesitant to get on Twitter or you’re a seasoned expert, it’s a small action that can make a million dollar difference! As a lucky participant in the Sam’s Club Giving Made Simple challenge, ACCION USA can double our votes on April 30th if we receive the highest number of tweets. We don’t just want to win this challenge, we NEED to. We’re still in 3rd place, and without this, we can’t move back into 2nd and win $500,000.
It’s with deep sincerity that we ask for your help on this, and quickly….
Tomorrow (April 30th) simply tweet for @accion_usa! IMPORTANT: Your tweet must contain @samsclub and #sams4accionusa. You can use these two examples or create your own version:
- Sample 1: Help @accion_usa win $1 million by tweeting this message TODAY – @SamsClub #Sams4ACCIONUSA – Please RT!
- Sample 2: RT TODAY 2 sign the Twitition for US #microfinance & help @accion_usa win $1Mil for #smallbiz: @samsclub #sams4accionusa
You can always stay in touch with us on Twitter—Follow us at @accion_usa!
All that we can say is thank you and mean it—we hope that is enough! Winning this much needed funding means more to us than you know.
Very fondly,
The ACCIONISTAS
Hope is the Color Green: ACCION USA’s All New Green Loan Program
The birth of the modern environmental movement is celebrated each year on April 22nd. Today is the movement’s 40th anniversary and the day ACCION USA, a pioneer in U.S. microfinance, chose to launch its Small Business Green Loan Program.
Thanks to ACCION USA's Green Loan Program, entrepreneurs will have the green loans they need to build a strong business AND a healthy planet.
Among other things, ACCION USA’s Green Loan Program seeks to help entrepreneurs to leverage their profits to improve the larger community. After a year of dialogue with small businesses, we learned that their largest challenge to going green was lack of access to the support to take the leap. However, with the right financing and training, small businesses have the opportunity of the decade. Amid economic turmoil and hurting profits, “greening” has the potential to slash costs through energy efficiency and attract new environmentally conscious consumers – all the while making the earth a better place to inhabit.
On April 22, 1970, 20 million Americans took to the streets, parks, and auditoriums to demonstrate for a healthy, sustainable environment. Today, in 2010, we’re struggling with similar issues that we did 40 years prior – we are a country at war, struggling with an economic downturn, looking for hope. In many ways, the Obama Administration has turned hope the color green. In no other time in history have small businesses had so many incentives to go green. And even with all those incentives, they are asking for a hand up to make the first step. Microlenders like ACCION USA are uniquely positioned to bridge that gap for weatherization contractors, restaurants, transportation, corner stores, retail and offices alike.
Learn more about ACCION USA’s Small Business Green Loan Program at www.accionusa.org/green and spread the word. Happy 40th Anniversary of Earth Day!
Tags: earth day, green, small business
Calling all Multi-tasking, Socially Conscious Network Administrators
Now through May 31st, with just one simple download, you can upgrade your network management software while helping to put a loan in the hands of struggling small business owners. That’s right. Ipswitch, Inc., developer of the WhatsUp Gold suite of innovative management solutions will donate $1 for every download of its WhatsUpGold products to ACCION USA through May 31st.
Every dollar donated will go to ACCION USA’s national microlending program which provides lower-income entrepreneurs across the nation with affordable credit and financial education needed to build, sustain, or expand their small businesses. They’re thrilled to support the success of the smallest of small businesses, having humble beginnings of its own just 20 years ago. Today, Ipswitch, Inc.’s Network Management Division develops the comprehensive IT Management software that’s assuring the availability, health and security of over 100,000 thriving networks (and counting) worldwide.
So, while all you patient Network Administrators answer your 30th password reset request this week and stand on the front lines of the relentless war against spam mail, take comfort in knowing your work can empower a local entrepreneur to build a successful business and earn a living wage. Download WhatsUp Gold today.
Tags: $1 donation, inc., ipswitch, microfinance donation
Mission, Not Profit, Drives Interest Rates in the U.S.: Response to “Banks Making Big Profits from Tiny Loans”
Readers of “Banks Making Big Profits From Tiny Loans” (The New York Times, April 14, 2010) should note that the lending practices described are not consistent with the practice of microfinance in the United States, where the strategy is also alive and well.
The U.S. ACCION Network has distributed over $260 million in loans to micro-businesses across the US. We have done so with interest rates that reflect our primary mission: to put reasonably priced credit in the hands of those who are locked out of the traditional financial mainstream, and to do so in a manner that assists the business owner in increasing, not depleting his/her assets. Though it would be easy to say thresholds are set by law, the primary driver is creating an environment in which hardworking people have an opportunity to succeed.
Typical U.S. microloan interest rates are set so that the loan recipients profit, not the lender.
Our rates range by program and by state but are well below the rates cited as endemic in the microfinance world, below credit card interest rates, and are accurately stated on the Kiva website. On loans that average $10,000, there isn’t much income generated for ACCION once we have covered our capital costs and the risk we take per loan. As a result, while we continue to drive improvements, we are not sustainable without the support of foundations, individual donors and government. That is a fact that has limited how much of the market we can serve and our ability to go to scale.
Following a rigorous due diligence process, ACCION USA was chosen by Kiva to be one of two microfinance partner organizations working with US-based businesses. The relationship serves each of our missions well: to facilitate access to the capital required to start or grow a business. Kiva’s ability to harness the good will and interest of millions of people in investing to directly affect the lives of individual business owners enables ACCION USA to lend more to more businesses. That’s not the material of criticism; it is a positive outcome born of innovation, common mission and a dedication to doing what is right for the people we serve.
Spam your Fam and Win $1 Million for Microentrepreneurs
That’s right, I said it. “Spam your Fam.” Send some emails to your friends and family members who rely on Sam’s Club for their bulk household items and ask that they support a cause you believe in (That would be ACCION USA – we’re in the running for a $1 million grant in Giving Made Simple, hosted by Sam’s Club). Here’s an example of what you could send:
Dear Mom, Dad, Uncle, Friend, Etc,
Maybe you’ve heard me talk about microfinance, and maybe you’ve thought “I wish there was something I could do! Sounds like a worthy cause.” Well now there’s something you can do. It only takes 10 seconds for you to help ACCION USA, a leading US microlender, win $1 million! Just go online and vote for ACCION USA in the Sam’s Club “Giving Made Simple” contest. The one catch – you have to be a Sam’s Club member to vote.
If you’re not a Sam’s Club member, don’t fret! Pass the word along to your friends and family members who are. You can also donate your Facebook profile picture toward the cause.
Oh, I didn’t mention that before? Yes, you can donate your Facebook picture and help spread the word about ACCION USA’s microlending programs as well as the Sam’s Club $1 MM contest.
Every vote counts! The race is tight! Do your part and spread the word today.
Tags: sam's club
ACCION USA In the Running for a $1 Million Grant
We’ve got a big secret to share. For the past three months, ACCION USA has been knee deep plotting and planning its biggest microloan marketing and awareness campaign to date. Today, we’re happy to fill you in on the details.
ACCION USA is proud to be one of eight nonprofit organizations chosen to compete for a $1 million grant in Giving Made Simple, an online voting campaign where Sam’s Club members will help choose how to direct $4 million in charitable giving. In order to get the top $1 million grant, we’ll need to get the top number of votes in the entrepreneurship category.
Giving Made Simple is challenging us to put out networks to work! We’re in the running alongside some amazing small business support organizations— the Corporation for Enterprise Development (CFED), Community Reinvestment Fund (CRF) and Kiva will all be vying for the funds—and will need each and every one of our supporters helping to spread the word about our campaign.
Here’s how to get involved:
- Sam’s Club Members: Vote! If you’re one millions of people in the U.S. that belongs to Sam’s Club, VOTE NOW and VOTE OFTEN – you can vote once a day each day through May 2. We did the math and know that we’ll need about 750,000 votes to win, and each time you vote ACCION USA brings us one step closer.
- Spread the word by donating your profile picture for a day at www.DonateProfilepicture.Org. You’ll let all of your friends know that you support ACCION USA, and will inspire others to get involved. The video gives more detials.
- Calling all student groups: We need you to use your creativity and social networks to spread the word on campus. Learn how you can win a trip for two to the Microfinance USA 2010 Conference and support AUSA’s Giving Made Simple campaign by participating in our Student Challenge. Learn more here.
We’ll keep you posted here on what we’re doing to promote the campaign and hope you’ll check back for updates!
Microfinance Week in Review – Week Ending April 9, 2010
Some of the week’s news in the microfinance, green business initiatives and the small business sector
- ACCION USA Competing for $1 Million Sam’s Club Grant to Expand Lending and Financial Education Programs- ACCION USA
- Microfinancing changes lives around the world measurably- The Seattle Times
- Introducing Staying Alive: What It’s Like to Struggle- New York Times
- PeopleTowel Shows How a Green Business Can Effectively Use Social Media- Triple Pundit
- Banner Biz Q & A- The Bay State Banner
- Those Seeking Loans Are Left in the Lurch by Erratic Funding- Wall Street Journal
Sneak Peek: Small Business Green Loan Program
With the Green Loan Program launching on April 22nd (just 16 days away!) we thought we would let the cat out of the bag a little early. But only for our most ardent online supporters, of course! Join us on April 13th for a lunch time webinar that will tell you all you need to know about ACCION USA’s Green Loan Program pilot in Massachusetts and New York. It’s an interactive experience that will allow you to provide feedback and ask questions. Feel free to spread the word to anyone you think would be interested in helping small businesses go green!
Date: Tuesday, April 13, 2010
Time: 12:00 PM – 1:00 PM EDT
Registration
This webinar is designed for bankers, small business consultants, and anyone else that works with small businesses. It will show you how to help small business get the money they need to go green with an ACCION USA Green Loan for Small Businesses.
Green loan products include:
- Energy Efficiency Loans: Saving energy = saving money and increasing profits
- Grow Your Green Business: Loans for small businesses that provide green products or services
If you know a small business that is struggling to find ways to cut costs and access new, green-conscious consumers, sign up for this “partners only” webinar today. Space is limited!
After registering you will receive a confirmation email containing information about joining the Webinar. “See” you on the 13th!
Tags: green small business, greenm small business loans, partners, training, weatherization, webinars
A Second Look for Boston Small Businesses
Meeting with Boston Mayor Thomas M. Menino. Photo credit: Isabel Leon, City Hall Photographer
Last month, Boston Mayor Thomas M. Menino proposed a new ‘Second Look’ partnership between banks, ACCION USA and the City of Boston. Always a staunch supporter of small business, Mayor Menino wants to deliver to Main Street businesses the financing they need to grow, and believes that microfinance might offer part of the solution. “A sea change in lending is underway, and we can help facilitate it. Microfinance was invented for the underbanked. Now, it’s our small and medium businesses that are underbanked, and we can adapt the model for them,” the Mayor said.
Needless to say, I could not agree more.
Last Thursday I was privileged to attend a meeting with the Mayor to officially kick off his Second Look program. Together with nine of Boston’s major banking institutions, we spoke of ways to get capital into the hands of more small businesses. Through the program, businesses turned down for loans at traditional banks will be automatically referred to ACCION USA for a second look. While we all agreed that not every business is a good candidate for a loan (‘micro’ or otherwise), we also know that sending referrals to ACCION USA helps banks provide a real, tangible benefit to their customers. And it helps get credit flowing to the small businesses that will be the source of Boston’s economic recovery and prosperity.
With banks acting as a feeder system, the Second Look program represents a tremendous opportunity for ACCION USA reach hundreds – perhaps thousands – of small business owners who might never have considered that a microloan might be just what they need.
Think something like this would work in your city?
Microfinance Week in Review – Week Ending April 2, 2010
Some of the week’s news in the microfinance, green business initiatives and the small business sector
- Coming to America- American Banker
- Credit Unions, Commercial Banks At Odds Over Lending Turf- Wall Street Journal
- Small banks say they can’t win in small-business lending- USA Today
- City explores options for “green” business park- The Daily Iowan