Located at 404 Euclid Avenue, ACCION San Diego is an independent, 501 (c) (3) non-profit organization that provides economic opportunity to microentrepreneurs who lack access to traditional forms of credit. With loans ranging from $300 to $35,000, ACCION San Diego assists small and home-based business owners, many of which are run by minorities and people with low- to-moderate income levels. (619) 795-7250, www.accionsandiego.org More About ACCION San Diego · Our Loan Program Services · Business loans ranging from $300 to $35,000, quick loans under $2,000 · Free technical assistance · Credit reporting and referrals to counseling services · Access to a resource library · Publicity/networking opportunities · Financing within approximately one-two weeks (within 48 hours for Quick Loans) · Life and disability insurance · Where We Get Our Funding · Private donations · Grants from foundations, companies & government · Grants or low-interest loans from banks · Why Microentrepreneurs Come to Us · Small loan size · Poor or no credit history · Start-up businesses (less than two years) · Language barriers · Limited financial records · Lack of collateral · What Our Clients Use Loan Money For · Equipment, inventory and supplies · Renovations and business expansion · Basic working capital etc… · Our Eligibility Requirements · Work/live in San Diego County · No bankruptcy in the past year · Must show the capacity to repay the loan · Must be 18 years of age · Business must be a legal activity · No outstanding liens or judgments · Must have documented business income (i.e. receipts, invoices) · Our Historical Performance · Total number of loans disbursed: more than 2,500 · Total dollars disbursed: over $15 million · Average loan size in 2010: ~$10,000 · Female clients: ~49%, Minority clients: ~68% ACCION San Diego’s Mission & History Our Mission The mission of ACCION San Diego is to create increased income and job stability for low-to- moderate income, self-employed men and women by providing credit and other support services to these small business owners. Through loans and business support, ACCION San Diego has been helping microentrepreneurs strengthen their incomes, create additional employment and contribute to the economic revitalization of their communities since 1994. Our History Launched in May of 1994, ACCION San Diego is an affiliate of ACCION International, a worldwide leader in micro-enterprise development. Founded in 1961 in Latin America, ACCION International and its licensees have microlending programs throughout the United States, Latin America, the Caribbean and Africa. Building upon the experience of ACCION International, ACCION San Diego developed a successful lending methodology tailored to local microentrepreneurs enabling them to serve as catalysts for the economic revitalization of Southern California’s neighborhoods. ACCION San Diego is committed to an integrated approach to the community and works with strategic partners in local government, community-based agencies, corporations, and banks. These collaborative efforts enable ACCION to maximize resources, minimize duplication of services, and cast a wider net reaching those in need. ACCION San Diego is also a certified Community Development Financial Institution (CDFI) from the U.S. Department of Treasury, and collaborates and shares best practices with ACCION licensee programs in Chicago, New Mexico, New York, Texas, Atlanta, New England, Boston and Miami. Accomplishments ACCION San Diego has lent over $15 million to more than 1,500 microentrepreneurs since inception in December of 1994. We have approved more than 2,500 loans while maintaining good portfolio quality. Each year the ACCION San Diego staff provides technical assistance and business information to more than 1200 business owners who approach the program for services. ACCION San Diego maintains a close relationship with our clients and we are proud to say we have achieved these accomplishments with a staff of 7.5 and support from volunteers. The Need for Microcredit ACCION San Diego targets self-employed individuals and microbusiness owners, many of which are run by women, other minorities and people with low-to-moderate income levels. Over 68 percent of our total client base identifies themselves as part of an ethnic minority group, and approximately 49 percent of ACCION clients are women all of whom are in need of micro-credit. The Southern California regional economy is growing at a faster rate than those of the country as a whole, yet most of the jobs with the most growth in California (fast food, retail services, grocery, health care, janitorial and security industries) pay less than a livable wage. Struggling to adjust to the competitive global economy, many employers are shifting to part-time workers, non-standard schedules, contract labor, suburban worksites (which there is minimal or no public transportation) and fewer employee benefits. Faced with this wage situation and cost of living (which is 41% higher than the national average) many low-to-moderate income persons are turning to self-employment as an alternative. Cumulatively, microenterprises employ thousands of people, feed and educate their families, and sustain the vital informal economic infrastructure of Southern California’s older urban neighborhoods. These enterprises are owned and operated by hardworking men and women whose ethnic and cultural backgrounds reflect the community’s rich diversity. ACCION San Diego’s clients may be seamstresses, daycare providers, carpenters or hairdressers, all working hard to earn an income that will help them build a better future. Even for these determined microentrepreneurs, opportunity is limited by the difficulty of accessing business credit and technical assistance. Obtaining a loan from a bank is almost impossible for a variety of reasons such as small loan size, poor or no credit history, language barriers and limited financial records. Without access to working capital, micro-entrepreneurs have little chance of strengthening or expanding their tiny businesses. In order to maintain and grow their microbusinesses, ACCION San Diego borrowers often need very small loans to acquire basic working capital, to make improvements to their workspaces, to purchase equipment, and/or to buy inventory in bulk quantities. Once these microentrepreneurs have better established their business, many are able to receive larger loans from traditional loan sources such as banks and credit unions. We also encourage our microentrepreneurs to improve their business acumen. As their businesses grow, and eventually require larger amounts of capital from mainstream financial institutions, they will need to develop the formalized financial records and management skills required by these lenders. To assist our clients in this area, ACCION San Diego provides technical assistance, both through staff members and partnerships with community organizations. Methodology ACCION San Diego has developed a lending methodology that enables low-income microentrepreneurs to access credit, while maintaining a high quality loan portfolio. The program’s “character-based” lending methodology takes into account the borrower’s integrity, reliability, and entrepreneurial spirit when evaluating loan applications. The program prides itself on being accessible and on providing capital quickly. ACCION San Diego’s loan committee meets on a weekly basis to review and process completed loan applications. Stepped Loan Amounts: ACCION San Diego’s provides business loans from $300 to $35,000. These microloans enable many low-to-moderate income borrowers to receive the credit they need to build their business and family incomes, while maintaining a manageable risk level and reasonable payment schedule. Collateral Requirements: ACCION San Diego’s flexible collateral requirements make credit accessible even to clients with few business and personal assets. ACCION San Diego accepts non- traditional forms of collateral such as automobiles, equipment, and other business inventory. Co-signer Requirements: All loans are evaluated on a case-by-case basis with co-signers required depending on the level of risk. Pricing: ACCION San Diego’s pricing structure, which includes incentives for timely repayment, takes into account market interest rates, our costs of lending, and our goal of reaching program self- sufficiency. Interest rates are fixed and range from 12% to 18% depending upon the client’s risk level. Terms: Loans terms vary from 3 to 60 months with equal monthly payments. As loan amounts increase, the loan term increases, enabling borrowers to maintain reasonable monthly payments as they move to larger loan amounts. Borrowers are also permitted to prepay their loan balance without penalty at any time after the first three months of payment. Credit Insurance: ACCION San Diego offers life and disability insurance to cover the borrower’s debt, relieving the family of the debt burden, in the event that the borrower became incapacitated due to poor health or injury. The premium is included in the regular monthly payments. Business Training: ACCION San Diego’s clients are often quite accomplished in their specific industry, but may lack the necessary expertise for business management and growth. They may be excellent childcare providers or skilled contractors, for example, but do not have training in basic financial reporting. ACCION has found that the most effective way to help borrowers develop their business skills is to offer individualized training on an as-needed basis by our staff, volunteers or partner organizations. All of our incoming clients receive basic technical assistance from loan officers during the intake process. If clients require additional assistance during the intake process, we refer them to partner organizations who specifically offer assistance in marketing, business planning, government contracting, manufacturing, accounting and e-business. ACCION San Diego hosts and facilitates business workshops regularly for clients on educational topics and offers opportunities for publicity and networking. ACCION San Diego’s Awards CA Economic Development Lending Initiative (CEDLI) and CA Resources and Training (CARAT) Outstanding Performance in Community Development Lending Award – ACCION San Diego was recognized for its impactful work in supporting small businesses in San Diego County with access to capital through its microloan program as a Community Development Financial Institution (CDFI). The award was presented and the Annual CEDLI/CARAT luncheon on Oct. 12, 2010 at the Millennium Biltmore Hotel in Los Angeles. Urban League of San Diego County’s 2010 President’s Small Business Award - ACCION San Diego was presented this award at the Annual Equal Opportunity Day Diversity Summit and Awards Luncheon onWednesday, October 13, 2010, at the Hilton San Diego Bayfront. The President’s Small Business Award is given to an organization that has made a significant contribution to the community, in one of the five programmatic thrust of our Urban League Movement, significantly impacts and/or promotes diversity initiatives in its business. 2009 Innovation in Technical Assistance (TA) Performance and Service Award – ACCION San Diego’s Executive Director, Elizabeth Makee, was presented this award for her demonstrated outstanding performance as a participant in CARAT’s 2008-2009 TACP Executive Institute trainings, and for the service ACCION San Diego has provided to the economic development community. 2009 California Association for Micro Enterprise Opportunity (CAMEO) “Job Generator” Award –ACCION San Diego’s Executive Director, Elizabeth Makee, was presented this award for her assistance to the San Diego community in guiding microentrepreneurs with the expansion of their businesses to create jobs in San Diego. In 2008, ACCION San Diego generated and/or maintained over 900 employment opportunities in the San Diego area. State Senator Christine Kehoe presented Makee with the CAMEO award at the annual meeting in Sacramento 2009 Small Business Administration Community Service Award – ACCION San Diego was named the recipient of this award, recognizing the organization for exemplary service and extraordinary assistance, as a micro-lender, instrumental in the growth and success of San Diego small business and economic development. 2008 Community Investment Leader of the Year – ACCION San Diego was presented with the award by The San Diego County Hispanic Chamber of Commerce (SDCHCC) during the Iluminada Gala in April 2008. The award recognizes a financial institution that shows leadership and commitment to community advancement, support and presence in the historically underrepresented communities. Four-Star Charity Navigator Award 2004, 2005, 2006 & 2008 – ACCION San Diego received the highest 4-star rating for sound and fiscal management from Charity Navigator. The rating recognizes ACCION San Diego as an exceptional non-profit which allocates 80% of its organizational budget towards the microlending program, ranking the organization highest among its peers in efficiency and capacity. Comerica Revolving Grant Fund of $250,000 – In September, Comerica Bank announced ACCION San Diego as the recipient of a $250,000 revolving grant fund. The grant will be used to support the microlending program, giving ACCION funds to provide more small business loans to hard working microentrepreneurs. We are happy to have Comerica Bank as a community partner and we want to extend our appreciation for their continuous support of our program. Multicultural Heritage Award Finalist – San Diego Business Journal 2005 – These organizations were recognized for their commitment to diversity in the workplace and community. ACCION San Diego was one of 50 finalists. Neighborhood Builders Award – Bank of America 2004 – From 30 markets nationwide and 2,500 applicants, Bank of America awarded 60 grants to two nonprofit organizations in each market who work to promote vibrant neighborhoods and contribute to distressed communities. ACCION San Diego was honored as one of the two recipients in San Diego of the $200,000 multiyear grant, as well as leadership training for senior staff members. ACCION San Diego is using this money to expand outreach efforts, update technology and leverage partnerships in the community. Strategic Partner Award – Citibank 2004 – This award was given to ACCION San Diego to recognize the strategic partnership with Citibank and their continuing support for ACCION’s mission and lending program. Top 25 “Social Capitalists” Award – Fast Company Magazine, January 2006 – For the third year running, ACCION's pioneering role in microfinance was recognized for generating tangible results in fighting poverty by bringing a full range of financial services to the poor. The Fast Company/Monitor Social Capitalist Awards are the first of their kind - quantitatively measuring a group's innovation and social impact, as well as the viability and sustainability of its business model. Mark Vamos, editor of Fast Company commended ACCION’s work, “We applaud the efforts and business acumen of ACCION which, well beyond its dedication to scalable solutions for poverty alleviation, is a business-oriented organization of vision worthy of imitation in both the non-profit and for-profit sectors.” America’s Top 100 Philanthropies – Worth Magazine, December 2001 – ACCION was named one of the nation's top charitable institutions in the December 2001 issue of Worth Magazine. Worth's "America's 100 Best Charities" list was chosen from over 800,000 nonprofit organizations in the country and is based on six months of research into financial statements, mission fulfillment and impact evaluations. ACCION was one of 21 organizations listed in the "Relief and Development" category. Presidential Award for Micro Enterprise Development – President Clinton, 1997 – President Clinton honored ACCION and its U.S. Network with one of the first Presidential Awards for Excellence in Microenterprise Development for its success in demonstrating the viability of micro lending in the United States. Meet Our Clients ROBIN TABANA: PROPER ETIQUETTE ART DEALER Custom, unique, fashion is a priceless beauty of our culture. Art surrounds us in nature, music, color, and clothing. As an artist and art dealer this concept lives strong in Robin Tabana, owner of Proper Etiquette Art Dealer. Robin uses his artistic abilities to create one-of- a-kind clothing items for his customers. "Creations are made to lead and never follow," Robin says. Proper Etiquette began in 2003 as a company that creates custom clothing from the color and type of fabric to the style pattern and cut. When Robin decided to start this business, he looked to guidance from a friend, Vicky Nixon. She gave him knowledge and training in refining his sewing skills. In 2008, Robin wanted to expand his business and came to ACCION San Diego for a loan in the amount of $25,000 to purchase supplies and machinery. Robin started his business as the only employee with one sewing machine. At that time, he was only able to make 11 jackets a month. In 2009 with the help of the loan for more equipment and supplies, Proper Etiquette employs 10 people who cut, sew, and finish the products Robin designs. The staff consists of highly skilled individuals who have years of experience. For example, one cutter, Mr. Enrique, has been cutting since he was 16 years old and now has 22 years of experience. The products Robin produce range from t-shirts to hats. His customer base continues to grow daily by word of mouth and referrals. To this day, he still personally makes 11 custom jackets a month to select clientele on an invitation basis. Not only is his business bringing income to Robin and his employees, but it is also impacting the local community. Proper Etiquette focuses on responsible business, giving a portion of its profit to a local elementary school and the Surfrider Foundation, a nonprofit environmental organization dedicated to the protection of the world's waves and beaches. Additionally, as Robin expands his audience by finding stores to sell his items, he plans to eventually fund the building of a youth recreational center. "I always want to make sure I help others," Robin explains. Above all, Robin thrives on the ability to use his love and passion for art to maintain a successful business. "Do what you love," is both his motto and his advice to others. Visit http://properetiquette.us/ to check out Proper Etiquette apparel and learn more about Robin's artwork and designs. Meet Our Staff at ACCION San Diego Elizabeth Makee, Executive Director. Ms. Makee joined ACCION San Diego in November of 2004 and is responsible for all developmental and operational areas of the organization, in addition to public relations, human resources, and fund development. She brings nine years of project and organizational development, strategic marketing and public relations experience to the organization. Prior to joining ACCION, Ms. Makee worked with various public relations, media publications and hospitality/event planning companies where she managed client portfolios, campaigns and communication efforts for many small business owners and non-profits. Since working with ACCION San Diego, she has participated in small business community organizations including Net Impact, SD Chamber Small Business Advocacy Committee, Torrey Pines CR Advisory Committee and the Comerica Advisory Board. She received her B.A. in Communications with a Minor in Spanish from the College of Charleston in Charleston, SC. Robert Lopez, Director of Lending. Mr. Lopez joined ACCION San Diego in March of 2008 and is responsible for lending staff supervision and training, program development, underwriting, loan portfolio quality and management, loss mitigation and recovery, development of bank and community partner relationships, and community outreach. Lopez received a B.A. in Urban Studies, with an emphasis in Public Administration from San Diego State University and is currently enrolled in Masters of Public Administration Program at SDSU. He has almost 10 years experience in small business banking and lending and is bilingual in English and Spanish. Prior employment includes work with Union Bank of California, California Coast Credit Union, Coast Central Credit Union, & Fannie Mae. Javier Islas, Director of Finance. Mr. Islas, CPA, is responsible for all finance and accounting functions of the organization and joined ACCION San Diego in January 2010. He has extensive experience in accounting and auditing. His audit background specifically includes federal financial management requirements having participated in the audits of the federal departments of labor & energy. His accounting background includes experience in for-profit and non-profit government contract organizations. He has a Bachelor's Degree from San Diego State University and is bilingual in English and Spanish. Maria Montaño, Loan Officer. Ms. Montaño joined the ACCION team in March 2001 and was promoted to Loan Officer in March 2003. As a loan officer, Ms. Montaño is responsible for generating new loans, marketing and outreach, and loan servicing. She is bilingual in English and Spanish and brings over ten years of experience in office management to her position. Valery Santacruz, Loan Officer. Ms. Santacruz graduated from the University of San Diego and received her B.A. in Business Administration, with a Finance emphasis. She has a background in commercial banking and experience in the nonprofit world, having helped create and market a magazine focusing on local nonprofits. As a loan officer, Ms. Santacruz is responsible for community outreach, establishing quality client relationships, generating new loans and servicing existing loans. She is bilingual in English and Spanish and joined ACCION San Diego in January of 2006. Iliana Farias, Customer Service Representative. Ms. Farias helps streamline the loan process for our loan officers; her duties include gathering all necessary information from clients and processing all loan documents. She received her B.S. in Accounting from the Universidad Autónoma de Baja California and is bilingual in Spanish and English. Monica Battah, Part-Time Accounting Assistant. Ms. Battah joined Accion San Diego in June 2008, and is responsible for assisting the Director of Finance with all the accounting functions of the organization. She graduated from San Diego State University with a B.S. in Accounting, and is bilingual in English and Spanish. Jessica Hill, Part-Time Resource & Sustainability Manager Ms. Hill joined ACCION San Diego in July 2010 to increase resources for the organization and its clients. She will focus on facilitating trainings and education for ACCION’s small business clients through social media, marketing and events, in addition to coordinating the ACCION San Diego volunteer program and assisting with some fundraising initiatives. She holds a passion for ensuring the success of entrepreneurs, and hopes to support their success, as well as ACCOIN’s brand awareness through interactive marketing. She holds a B.A. in Business Marketing and a B.A. Business Spanish from the University of Colorado. Her passion for micro-finance developed through traveling and studying internationally as a student. Jehanne Spriggs, Part-Time Administrative Assistant. Ms. Spriggs joined the ACCION San Diego team in November 2010. She serves as the first point of contact for customers and administers daily operations in the office. She holds BA in International affairs from Veslius College-Vrije Univeriteit Brussel and a minor in Asian Studies from Columbia University and UC Berkeley. She has experience in marketing, customer service and sales. She has had a passion for microfinance since living in Southeast Asia and hopes to use it to ensure the success of entrepreneurs striving to make a change in their lives and communities. Ms. Spriggs is also trilingual in English, French and Spanish. Meet Our Board of Directors at ACCION San Diego Gordon P. Boerner – Board Chair Senior Vice President David Wallace Administrative Services Manager Founder & CEO San Diego National Bank Senior Helpers of San Diego Linda Cole – Board Vice-Chair Sean Carpenter Senior VP/National Director of Technical Officer for Agri-Business & Microlending, Citibank Commercial Markets Microenterprise Group Project Concern International Jonathan Grissom– Corporate Counsel & Board Secretary Julia Simms Attorney at Law President/Founder Higgs, Fletcher & Mack LLP J. Simms Agency Mark Emch – Board Treasurer Rick Gonzales VP Finance VP, Investment Manager San Diego Convention Center Corporation Wells Fargo CDC William D. Lynch The William D. Lynch Foundation William Becker Vice President, Western Market California CRA Manager Comerica Bank Rosana Herrera-Ortega Attorney at Law Law Office of Rosana Herrera-Ortega Pamela Davis Adam S. Metzger Director of Debt Acquisition Pacifica Companies Cecile Bereal President & CEO RMA Management Alliance, Inc.