CDFI Awards $750,000 to ACCION USA
This morning ACCION USA received a $750,00 grant, the largest given to the New York City office. This grant is part of $104.9 million in awards for 180 local financial institutions serving 44states and the District of Columbia from CDFI, the Community Development Financial Institutions Fund from the U.S. Treasury Department. (Read the full press release.)
This grant will allow ACCION USA to lend more and continue improving small businesses everywhere.
ACCION USA's Grant by CDFI
Microfinance Week in Review- Week Ending July 30
Some of the week’s news in the microfinance, green business initiatives and the small business sector:
- With Squeeze on Credit, Microlending Blossoms - New York Times
- Tiny Loans Propel Big Dreams - Miami Herald
- Fashion Meets Microfinance – Going NYC
- Green Ideas that Made Millions- Earth 911
- Microlending is No Longer Just for The Developing World- Business Insider
Microfinance Week In Review- Week Ending July 23
Some of the week’s news in the microfinance, green business initiatives and the small business sector:
- The World Most Inspiring Women- Forbes
- Entrepreneurs Flock to Pet-Chicken Market- Wall Street Journal
- The Wrong Fix for Small Business Lending- CNN
- Five Simple Steps to an Environmental Management Plan- ACCION USA
Follow Friday for Microfinance
Aaah, Fridays. It’s everyone’s favorite day of the week for its (relatively) laid-back vibe, happy hours, and chances to sneak out early for weekends away. But for us Twitter nerds, it’s also Follow Friday (#FF or #followfriday), and our chance to get recommendations from friends on the latest and greatest Tweeters to follow.
So on this particular Friday, I’d like to take the opportunity to introduce you to some of my fellow ACCION Tweeters. Anyone in microfinance should be sure not to miss thoughts in 140 characters or less from these seasoned experts:
- @CFI_ACCION is the voice of the Center for Financial Inclusion at ACCION International. Follow them to be the first to know about new blogs and commentary from recognized microfinance expert, author, and CFI director Elisabeth Rhyne, as well as news and updates regarding financial inclusion initiatives and client protection in microfinance.
- For the scoop on U.S. microfinance and small business issues, follow me and other ACCIONista Tweeters at @ACCION_USA. You’ll get an insider’s look at our organization, access to client stories, and learn about new job and volunteer opportunities. You can also get local news from other U.S. ACCION affiliates at @ACCIONNM_CO_AZ (New Mexico, Colorado, and Arizona), @ACCIONchicago, and @ACCIONsd (San Diego).
- ACCION International recently joined the Twitterverse at @ACCION_Intl. You’ll get news from the field from ACCION Ambassadors, information on how to support the microfinance cause, and more.
- Want to help raise money for microfinance? Follow @microbikeACCION and learn how you can pedal against poverty and join a fundraising event in your area. The next event is October 1-3, 2010.
- ACCION communications expert Andy Sprung is always the first to know what the media says about microfinance—you can be the second by following him at @sprungpr
That rounds out the ACCION family of Tweeters—you can easily follow us all through our ACCION Network Twitter list. Who are your favorite microfinance experts to follow?
Tags: follow friday, microfinance, Twitter
Microfinance Week in Review- Week ending June 25
Some of the week’s news in the microfinance, green business initiatives and the small business sector:
- How to Finance a Growing Business- Wall Street Journal
- Finding the Next Micro Opportunity-Wall Street Journal
- For Small Businesses the Big Decision is Hiring-Bloomberg Business Week
- ACCION USA announces SBA Microloan Program- Trading Markets
- In Microfinance a ‘dot-com’ boom?- Wall Street Journal
- Sam Adams Sends Experts to ‘Speed Coaching- Hartford Courant
Boston Beer Company Receives Founders Award for Corporate Philanthropy
Congratulations to The Boston Beer Company for receiving this years’ Founders Award at the 10th Annual Excellence Awards in Corporate Philanthropy for their Samuel Adams Brewing the American Dream Loan Fund in partnership with ACCION USA. (See video)
For those who aren’t familiar with our work together, ACCION USA and the Boston Beer Company have been working for the last two years to provide New England small business owners in the food and beverage industry with the resources necessary to grow independently.
The Boston Beer Company has worked creatively to give food and beverage entrepreneurs the tools to succeed by regularly hosting free speed coaching events, where small businesses can receive one-on-one lessons from experts on finance, legal advice, marketing, sales and distribution, and more. Since the launch of these “speed coaching” sessions in 2008, they have evolved into tremendously popular networking and business support events.
Jim Koch, along with ACCION USA president and CEO Gina Harman, received the award on behalf of Boston Beer The CEO of General Mill Ken Powell and CEO of Intel Paul Otellini also received awards for their leadership in corporate giving. (See all awardees)
You can learn more about the Samuel Adams Brewing the American Dream Loan fund on our Website.
The Issue of the 21st Century
“If you don’t know better, you cannot do better.”
On Monday, businessman, author, and social entrepreneur John Hope Bryant used this statement to support a Huffington Post op-ed in which he boldly asserts that financial literacy is not simply a goal for which all must strive, but is moreover, a universal right of every human being. Bryant notes that the struggle for civil rights characterized the 20th century; and he believes the challenge of achieving universal financial literacy will characterize the 21st.
But is financial literacy a “right,” equivalent to civil rights? I personally have to say no. We must use caution in characterizing anything as unequivocally endowed upon birth. What I do believe, though, is in the importance of education. I will always be an advocate for knowledge and believe in its power to generate progress, growth, and development – on both the micro and macro levels.
A year and a half ago, this core belief in education was the foundation for my support of financial literacy efforts. That was prior to the economic wake-up call of 2008 and prior to my time with ACCION USA. Now, my support is grounded in my everyday work, where I continually see the detriments of financial illiteracy.
My colleagues have spent hours working with clients to dispute credit report errors, resolve stolen identities, and create payment plans for collections accounts. After months of work, many of these individuals continue their struggles in resolving these issues.
Furthermore, payday loans, high-fee credit cards, check cashers, and other predatory services populate the financial world in which many of ACCION USA’s clients exist. For many, this is reality – and the only one they have ever known. And with the FDIC’s recent white paper reporting that 25% of the U.S. population lacks a relationship with a financial institution, financial illiteracy is quickly becoming an issue that permeates socio-economic borders.
Whether mismanagement, misunderstanding, or mistrust lie at the root of these situations, they all share a common solution and, more importantly, prevention: financial literacy.
It is our hope that ACCION USA’s financial education program may meaningfully address the growing issue of financial illiteracy. With each workshop, each counseling session, each webinar, and each article, we are helping people “know better”…and with that, as Bryant says, we can empower them to “do better.”
If financial literacy empowerment is the issue of the 21st century, ACCION USA certainly has a hand in the game.
Tags: accion usa, financial literacy, huffington post, illiteracy, john hope bryant, predatory lenders, right
Microfinance Week in Review- Week Ending June 4, 2010
Some of the week’s news in the microfinance, green business initiatives and the small business sector
- Chief Mentor: Private Equity Good for Microfinance- The Wall Street Journal
- Committee Encouraging Corporate Philanthropy Honors the Boston Beer Company- PRNewswire
- For Some Homeowners in Foreclosure, a Rent-Free Approach- NY Times
- How a Business Makes it to $1 Million- CNN
Hey, Small Businesses! Save Energy, Save Money.
Did you know that Compact Fluorescent Light (CFL) bulbs require 75% less energy and last 10 times longer than ordinary light bulbs? Did you know that this can result in savings of $30 per light bulb?[1]
At the same time, according to National Grid, restaurants in the United States spend on average $2.90 per square foot on electricity and $0.85 per square foot on natural gas annually. This means 3 to 5 percent of their total operating costs are typically spent on energy. But there are ways to reduce these costs!
Whether you own a business that operates in a home, office, or restaurant setting, you can save money on your utilities bills and become more energy efficient.
If you’re wondering how you can save money on lighting and other energy-consuming office or kitchen appliances in your business, then join ACCION USA, Todd Cowger, and David Graziano from RISE Engineering at the Making your Business Energy Efficient webinar on May 20th from 12-1pm EST to learn more.
Especially in hard economic times, businesses are always looking to save money. By taking steps to improve energy efficiency, your business can reduce costs, increase energy efficiency, and contribute to environmentally-sound practices. It is difficult to know where to start, but our webinar experts can point you in the right direction.
Learn about energy audits, benefits and incentives for using occupancy controls and programmable thermostats in your business, and discuss how to engage your employees in energy-saving practices that can help your business save money!
SIGN UP NOW to learn how to reduce energy costs while improving your company’s bottom line and worker productivity.
[1] http://www.thedailygreen.com/environmental-news/latest/safe-green-investments-47091801#ixzz0gZ4MhzgY
Microfinance Week in Review- Week Ending May 7, 2010
Some of the week’s news in the microfinance, green business initiatives and the small business sector
- Providing Loans Based on Cash Flow, Not Credit Score – New York Times
- Getting Women from Micro to Mezzo – Business Week
- Citi Plans to Start a Small-Business Fund for Lower-Income Areas – The Wall Street Journal
- Help Is On The Way For Small Businesses Affected By Oil Spill - Fox News
- Big Banks’ Small-Business Lending Promises – Business Week
- Google Puts Millions in Wind Farms – New York Times