SuperMoney
  Accion Small Business Loans

Accion Small Business Loans

in Business Loans from Accion

Unaffiliated

Accion Small Business Loans

Unaffiliated

in Business Loans from Accion

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend Accion Small Business Loans to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
Loan Amount $300 - $250,000
APR  (Fixed APR) 7% - 34%
Loan Term (Months) N/A

Accion Small Business Loans Review

Accion Small Business Loans is a business financing offering by Accion, based in San Diego, CA. Founded in 1961, Accion offers access to business loans in 50 states (and Washington, DC).

Accion Small Business Loans FAQ

What are Accion Small Business Loans’s rates?

Accion Small Business Loans offers a fixed APR business financing product that ranges from 7% APR up to 34% APR.

Does Accion Small Business Loans charge an origination fee?

Yes, Accion Small Business Loans charges a loan origination fee.

What limitations does Accion Small Business Loans set on the purpose of the loan?

Accion Small Business Loans considers loan applications for business purposes, such as:

  • Equipment Purchase
  • Inventory
  • Lease Improvement
  • Product or Service Expansion
  • Working capital

What types of business loans does Accion Small Business Loans offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Accion Small Business Loans provides access to the following business loan types:

  • Unsecured term loans

Does Accion Small Business Loans charge prepayment fees?

Yes, Accion Small Business Loans charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

How much can you borrow from Accion Small Business Loans?

Loan amounts start at $300 and go up to $250,000.

What do you need to qualify for Accion Small Business Loans?

Accion Small Business Loans does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 575 and up to 850 may be eligible for Accion Small Business Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Accion Small Business Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Accion Small Business Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Recent bank statements
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

Does Accion Small Business Loans report your account activity to credit bureaus?

Yes, Accion Small Business Loans reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   404 Euclid Ave
    Suite 271
    San Diego, CA 92114
  •   Visit Site

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

About Accion Small Business Loans

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Business Financing Requirements
  • Business Certificate
  • Business License
  • Business Bank Account
Credit Score Range 575 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Time Since Tax Lien 24 months
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
  • Business Tax Return
  • Employer Identification Number
Business Loan Type Unsecured Term Loan
Collateral Requirement Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • Product or Service Expansion
  • Working Capital
  • Inventory
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Monthly
Payment Options Automatic Payments
Loan Amount $300 - $250,000
APR (Fixed APR) 7% - 34%

Be the first to rate

 

Would you recommend Accion Small Business Loans to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)

Other Business Loans