Corporate Profile for ACCION International, dated Feb. 1, 2002.Business Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: February 1, 2002
Company Name: ACCION International
Address: 56 Roland Street, Suite 300,
Boston, MA 02129 USA
Main Telephone
Number: 617-625-7080
Internet Home
Page Address
(URL) http://www.accion.org
Chief Executive
Officer: Maria Otero
Chief Financial
Officer: Catherine Quense
Investor Relations
Contact: Capital Markets Department
Business number: 617-625-7080
E-mail address: (optional) CapitalMarkets@accion.org
Public Relations
Contact: Robin Ratcliffe
Business number: 617-625-7080 x 1235
E-mail address: (optional) rratcliffe@accion.org
Industry: Nonprofit, microfinance
Company description: ACCION International ACCION International is a non-profit organization founded in 1961 whose mission it is to provide small loans and technical assistance to those around the world who are under-serviced by local banks. is a private nonprofit organization Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. dedicated to reducing poverty and unemployment by providing credit and other financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to microentrepreneurs -- street vendors, sandal makers, bakers and others -- who struggle to support themselves by opening tiny businesses. Microloans -- small, short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. loans to the self-employed poor -- and business training provide the support these microentrepreneurs need to pull themselves out of poverty. ACCION's borrowers, traditionally considered "bad credit risks" by commercial banks, have proven to be quite the contrary. ACCION ACCION Americans for Community Co-operation in Other Nations currently works in 16 countries in Latin American and the Caribbean, in five countries in sub-Saharan Africa, and in 30 cities and towns the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Over the last ten years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time ACCION Network has: - loaned $3.7 billion in loans averaging $600 - served more than 2.3 million microentrepreneurs, 65 percent of whom are women - created or strengthened over 1.5 million jobs in low-income communities - had a historical loss rate of just over two percent ACCION's work focuses on the individual, in the belief that improving his or her life will have an impact not just on the household unit, but on the local community and the society as a whole. At the same time, ACCION seeks to ensure the long term availability of microcredit microcredit, the extension to poor individuals of small loans to be used for income-generating activities that will improve the borrowers' living standards. The loans, which may be as little as $20 for very poor borrowers in some developing countries, typically are by helping its associated institutions to achieve large scale operation and financial self-sufficiency, and to access capital from national and international financial markets. |
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