Rates and Terms
We offer business loans from $200 to $300,000 and extend lines of credit from $20,000 to $100,000. Terms range from two months to seven years, depending on loan size.
Accion’s interest rates vary and reflect the market rate and loan risk. Rates are fixed over the life of the loan and charged on the outstanding principal balance. Our rates are comparable to commercial loan rates, and there is no extra cost to pay your loan early.
When a loan is approved, we charge a community benefit fee due at your loan closing. This fee helps offset a portion of our lending, training and outreach costs, and supports the activities that help promote your business. The fee on most loans is a percentage of the loan amount ranging from 2% to 9%, and may be tax deductible for your business.
Accion is a nonprofit organization, whose mission is to help small businesses thrive. The money you pay in interest and fees funds about half of the costs associated with our work providing capital and support services to entrepreneurs. In this way, you help finance the cost of lending to the next business owner.