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Accion loans earn recognition

ALBUQUERQUE, N.M. — Accion New Mexico-Arizona-Colorado has been honored by a U.S. Commerce Department agency for its role in providing minority firms access to capital.

The Albuquerque-based nonprofit small-business development organization will receive the Minority Business Development Agency’s 2012 Access to Capital Award at the National Minority Business of the Year Awards program Dec. 6 in Washington, D.C.

Accion helps entrepreneurs with business loans of between $200 and $300,000 and provides training, networking and other support services to aspiring and existing small-business owners.

Accion has provided more than $38 million in capital to entrepreneurs since its 1994 inception. Over the last five years Accion provided more than $7.7 million in business loans to 872 minority borrowers whose firms supported the creation or continuance of 2,025 jobs.

NEDA Consultants Inc., operator of the New Mexico Minority Business Center, nominated Accion for the honor, citing the organization’s leadership in the financial community for providing working capital to minority businesses.

The Minority Business Center is funded by the Minority Business Development Agency.

NEDA helps small minority businesses with federal contracting and certification programs. It also helps them secure financing.

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