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Albuquerque, N.M. (June 28, 2010) – ACCION New Mexico ∙ Arizona ∙ Colorado (ACCION) has received a $10,000 contribution from Citi for its Innovative Education Program.  The funds will support ACCION’s program to reach out to entrepreneurs in New Mexico to provide them with loans, business coaching, valuable training and mentorship to help their businesses succeed.

“Citi believes in supporting entrepreneurs to help local economies thrive,” said Melissa Briggs, New Mexico State Director Citi Community Development. “Working with ACCION, our longtime partner, we support the achievement of economic independence by entrepreneurs in New Mexico.  This program is important to Citi because ACCION not only invests in businesses but also invests in the people behind the businesses.”

 

Through its Innovative Education Program, ACCION plans to reach out to entrepreneurs that have difficulty getting loans because of a lack of credit history.  The program will specifically work with minority, low-income and women entrepreneurs to provide loans along with coaching in areas such as cash flow management, budgeting and financial reporting.

 

Citi has been a longtime partner and supporter of ACCION, providing outreach, marketing, financial literacy training and mentoring support to ACCION’s clients.  Since 1996, Citi has contributed more than $400,000 in funding to support ACCION’s work in New Mexico.   With Citi’s support, and that of other partners, ACCION has provided over 4,205 loans totaling more than $26.6 million to some 2,565 small businesses in 163 communities across New Mexico since the organization’s founding.  ACCION’s work is creating tangible economic impact in New Mexico, with an estimated 4,104 jobs created or sustained by the organization’s client businesses.  

 

 “Citi has been a vital longtime partner for ACCION and our work with entrepreneurs in New Mexico,” said Lynn Trojahn, vice president of advancement for ACCION.  “We are honored to work side-by-side with Citi as ACCION continues to support entrepreneurs in New Mexico, helping them build their businesses and create new jobs to build our local economy.”