Mercantil Commercebank Supports the ACCION USA Mission

Sees ACCION USA loans as a way to break down barriers to financing

Beverly Kovach knows the value that timely loans can bring to a growing business. As a vice president with Mercantil Commercebank in Miami, Beverly is part of the traditional banking world. But she knows that traditional banking can’t serve everyone.

“All banks have credit policies and procedures,” she says. “And because a lot of people here in South Florida are new immigrants, some may not have a strong credit background that they need to get a loan. And, yet, they have an entrepreneurial spirit and a good idea. That’s the niche that ACCION USA fills.”

Turning a loan decline into a loan recipient
Beverly sees ACCION USA as a resource for the underserved, including low-and-moderate income individuals and businesses. “If we have to decline a loan, we use ACCION USA as a referral. They have more flexible underwriting criteria. They’re able to do microloans and oftentimes that’s all that’s needed to help a business owner expand or entrepreneur get started.” According to Beverly, the number of small business owners that ACCION USA has been able to help in the Miami area has been impressive. “I’m in tears when I hear their stories,” she says. “ACCION trusts them, loans them a little money, and helps them build successful businesses from lawn services to restaurants.”

Taking it to the streets
Mercantil Commercebank’s commitment to serving its community goes far beyond simply making referrals. It is one of the sponsors of the Florida Memorial University Economic Development Mobile Unit, a customized semi-tractor-trailer that travels throughout the county, introducing people in underserved neighborhoods to FMU’s Entrepreneurial Institute, the bank’s financial services and other resources available to them including ACCION USA.

A broad range of support
Mercantil Commercebank’s support of ACCION USA takes several forms. In addition to referring likely loan customers, Commercebank also provides direct financial support to fuel ACCION USA’s efforts. And Beverly is also part of ACCION USA’s local advisory board in Florida.

“We’ve supported ACCION right from the start,” says Beverly. “I really believe in the integrity of this organization, and the work they’re doing to reach small business owners outside the traditional banking world, to break down barriers to credit, and to improve our communities.”