NYC CApital Access Program
As a NYC Capital Access lender, Accion East can provide your New York City-based small business with easier access to working capital and affordable small business loans.
At Accion, we understand the challenges of finding a loan to start or grow a small business. Whether you need to build your credit before applying for a bank loan, or have been affected by the recent credit crisis, Accion can help.
About the program
As a participant in New York City's Capital Access Revolving Loan Guarantee Program*, Accion can offer you reduced closing costs on your small business loan. And, you'll receive our competitive fixed interest rates - as low as 8% annually.
Program participants contribute a nominal, one-time administration fee. These fees are set by the New York Economic Development Corporation (NYEDC) and range based on loan size, and cap at 1% for loans above $10,000.
How do I qualify?
Accion considers more than just your credit history for a small business loan--we look at other factors including your length of time in business, industry experience, and more. Your loan consultant will discuss your application with you to determine if you qualify for a loan with reduced closing costs; but please keep in mind the following minimum requirements:
- No bankruptcies within the past 12 months
- Start-up loans (up to $30,000) require a cosigner
- Individuals past due on payments to any creditor may not qualify for a loan and a cosigner may be required
Loans offered under this program cannot be made to existing Accion clients, for real estate or personal purposes, or to nonprofit organizations
How Do I apply?
To apply for a Capital Access Loan, apply directly with Accion!