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$400,000 Grant from W.K. Kellogg Foundation
FOR IMMEDIATE RELEASE
Contact: Lynn Trojahn, Vice President of Advancement
(505) 243-8844 ext. 5018, (505) 573-1180 cell
Albuquerque, N.M. (April 28, 2011)–ACCION New Mexico • Arizona • Colorado (ACCION) was recently awarded a $400,000 grant from the W.K. Kellogg Foundation to strengthen delivery of vital business credit and financial literacy training to underserved entrepreneurs, small business owners and their families in New Mexico.
Efforts supported by the grant will include on-the-ground outreach and business development training opportunities in and around several New Mexico communities, including the Albuquerque, Farmington, Gallup, Las Cruces and Santa Fe areas. Over the two-year grant period, ACCION expects to deliver 380 business development loans totaling over $2,280,000 to entrepreneurs in the state.
“This funding from the W.K. Kellogg Foundation is transformative for ACCION,” said Lynn Trojahn, vice president of advancement of ACCION. “ACCION can now reach so many more aspiring and existing entrepreneurs across New Mexico who are hungry to generate new economic well-being for themselves their families and their communities through business ownership.”
“The Kellogg Foundation is pleased to support the important work of ACCION and other partners committed to improving the lives of all children and families in New Mexico,” said Ricardo Salvador, program officer, W.K. Kellogg Foundation. “Investing in entrepreneurship is just one of the ways we hope to help families become more economically secure and reduce historic disparities in income, employment, education and work based on ethnicity, race, class and gender.”
ACCION is dedicated to helping small business owners create assets, build income, and achieve financial health. The organization offers small business loans between $200 and $150,000 along with training, networking and other support services to those who want to start a business or business owners looking to expand.
The W.K. Kellogg Foundation, established in 1930, supports children, families and communities as they strengthen and create conditions that propel vulnerable children to achieve success as individuals and as contributors to the larger community and society. Grants are concentrated in the United States, Latin America and the Caribbean, and southern Africa. For further information on the foundation, please visit www.wkkf.org.
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Founded in 1994, ACCION has financed the start-up and/or growth of 3,111 businesses
through 4,899 loans totaling more than $31.9 million. The organization serves entrepreneurs
in 253 urban and rural New Mexico, Arizona and Colorado communities.ACCION’s client businesses report creating or sustaining an estimated 4,978 jobs.
Please visit us at www.accionnm.org or call 1-800-508-7624.
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Please contact Erin McDermott at emcdermott@accionnm.org regarding any errors or requested revisions.