Accion Offers Sandy Recovery Business Loans and Grants

Accion East and Online, a New York City-based not-for-profit micro-lender, is spreading the word in Brooklyn about its Sandy Recovery Business Loan and Grant Program.

The program is aimed at small business owners who, due to low credit scores, limited financial records and/or the need for greater monthly payment flexibility, cannot qualify for bank loans or emergency loan programs.

Accion offers loans of up to $25,000, with zero interest and no payments for the first three months.  Thereafter, the rate of interest is fixed at 4.99%.

Under the program, small business owners will receive grants equal to 15% of the loan amount to accelerate their recovery efforts.

For more information about the program, click here.

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albert george said...
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