Friday, October 03, 2008

Accion Texas Press Conference, Tuesday, Oct. 7th on Hackberry


Janie Barrera (photo)
Accion CEO

Need for Access to Capital for Small Business Owners During this Financial Crisis

Press Conference with ACCION Texas CEO Janie Barrera, State Rep. Michael Villarreal, local small business owners, Greater Chamber of Commerce and San Antonio Hispanic Chamber of Commerce CEOs.

ACCION Texas, 2014 S. Hackberry Street
Tuesday, October 7th @ 9:30 a.m.

ACCION Texas CEO Janie Barrera and State Rep. Michael Villarreal addressing the impact of current economic crisis on local small businesses and need for state funded Capital Access Program.

During these difficult economic times, financial institutions have been forced to tighten their credit restrictions, leaving small businesses in Texas with fewer options for obtaining the vital working capital they need. As a non-profit micro-enterprise development organization, ACCION Texas is able to provide necessary capital for small businesses where larger financial institutions are currently challenged.

While local organizations like ACCION Texas are able to provide relief during these current economic struggles, support for small business owners is also needed from the State of Texas. The Texas Capital Access Program (TCAP) is a successful government program that enabled micro-lenders like ACCION Texas to better fulfill their mission of helping small business owners. Unfortunately, this state program is currently unfunded. During the next legislative session, it is imperative that TCAP receive the attention and resources necessary to make it a viable tool in assisting small business owners across Texas.

ACCION Texas makes business loans from $500 to $50,000 for working capital, equipment purchase, inventory and other business needs. ACCION Texas has distributed over $70.4 million in over 9,100 loans to clients in Texas, helping micro-entrepreneurs strengthen their businesses, stabilize their incomes, create additional employment and contribute to the economic revitalization of their communities.

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