Accion Reviews

Learn more about Accion loans for small business owners. Includes information on Accion business loans, pricing info, reviews, and FAQs.

Updated on July 1st, 2019

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Accion is one of the largest non-profit lending networks in the United States. Since its inception in 1961, Accion small business loans have helped millions of entrepreneurs around the world.

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Pricing:

Accion does not provide a breakdown of fees or interest rates on their website.

Accion Reviews
Review:

Pros: Easy online applications, low credit borrowing, great customer service.

Cons: Additional fees.

Bottomline: Fast and simple loan processing for small businesses and solo entrepreneurs.

Key Information:

Co-Founders

Anne Haines

Founded

1961

Headquarters

Cambridge, Massachusetts

Number of Employees

201–500

Number of Customers

1,000,000+

CEO

Michael Schlein

Address

10 Fawcett Street, Suite 204, Cambridge, MA 02138

Phone Number

+1 617-625-7080

Website

us.accion.org

Reviews:

Reviewer

Review

Ellery Rose - facebook.com

Accion has been wonderful to us as we build our business in New Mexico. We relocated to Arizona and are on loan 2, as we expand our services. Both loans have been easy and very fair. We appreciate the help and encouragement services as well as the financing.

Diedra Keogh - facebook.com

My loan was processed twice, causing my account to be overdrawn. They replied they couldn't refund one payment because my account was overdrawn, claiming they were afraid the payment wouldn't go through. They already had my money, yet if I am late on payments, they charge a late fee. I am very disappointed that I have recommended this company to do many people. I will not be giving any more recommendations.

Corey GhostTheorem - facebook.com

The entire loan process was straightforward and exceptionally fast. Our loan officer Alex Magallanes was incredibly nice, helpful, and didn't mind our 5,000 questions. We received a couple of loan options and were able to pick the one that best fit our needs. Due to our schedule we asked that we could handle most of the process via email and were accommodated without question. All in all, it was one of the most pleasurable business interactions I've had in ages. Ghost Theorem Productions will be coming back to Accion in the future should we have the need.

Ed Wright - facebook.com

I would not be able to launch our business, Chez D's Food Truck with out the help Accion has provided. Their staff is very helpful, knowledgeable, and prompt. This is our second loan and we managed the entire process on-line and on the phone. Thanks Martin Montes de Oca for helping me through our last loan. You rock!

David Cruz - facebook.com

For small business lending a great place to start. Some of their resources are helpful. Time frames are better than most banks. Give them a shot to get you going. They were able to also help one of our other divisions get started in another state.

FAQs:

What is the price range for Accion loans?

Accion does not provide a breakdown of fees or interest rates on their website.

Who does Accion lend to?

Accion loans are granted to new and experienced entrepreneurs from various backgrounds and a variety of industries. Accion microlending is categorized according to socio-economic factors and the type of business you run.

Jump to our full article.

Do I qualify for Accion business loans?

When applying for Accion business loans, Accion USA will review your credit rating. If you have a bad credit rating, they will work with you by looking at your business's strengths and finances to make the loan possible. If you're interested in an Accion loan, be sure to read the Accion loan requirements for your region before you apply.

See more in our full article.

How do I apply for an Accion micro loan?

Applying for an Accion microloan is quick and easy. You can choose to apply online, in-person, or on the phone. If you'd like to apply online, go here and click "Apply for a Loan" in the top right corner.

Who funds Accion loans?

Accion microloans are funded by various entities, including banks, law firms, and non-profit organizations across the country.