Southeast Missouri State partners with ACCION Texas

CAPE GIRARDEAU, MO (KRCU) - Southeast Missouri State University is now partnering with the micro-lending giant ACCION Texas.

The partnership creates a new division of ACCION, named ACCION Delta.

ACCION is based in San Antonio and is the nation’s largest micro-lending organization. To date it has lent over $112 million through nearly twelve thousand loans.

ACCION president and CEO Janie Barrera says the organization helps struggling businesses and entrepreneurs get needed capital by giving out loans that range from $500 to $100,000.

"There’s a lot of small businesses, that don't have access right now because they haven't kept good financials. Or maybe it because there new in their business, and banks are regulated and they can’t help everyone," Barrera said. "So ACCION as a not-for-profit organization can bring capital then to small business community here in the delta."

The organization says it was drawn to the partnership by the university’s Douglas C. Greene Center for Innovation and Entrepreneurship.

Since 2006, the program’s graduates have started nearly 250 businesses with over 90 percent of those businesses still operating.

Program director James Stapleton says the partnership will make a big difference in the region’s economy.

"We hope that the partnership will allow more individuals who are starting or who have an existing business and need some capital to grow have access to it," Stapleton said.

The partnership was announced Friday at the Show-Me Center.

Tim Filla, KRCU

Posted in: ACCION,Center for Innovation and Entrepreneurship,James Stapleton,Janie Barrera,microfinance,microlending,Tim Filla