From $500 loans to $2M loans: Founder Anne Haines celebrates DreamSpring's 30th anniversary

Anne Haines remembers the kettle popcorn family, struggling to support three young children and needing a $300 loan to make their fledgling business work. The financial help from Haines’ microlending organization — Accion, which is now called DreamSpring — allowed the family to buy a bag sealer to keep the popcorn fresh and remain in business.

It’s an example of Haines’ longtime mission to “support family economic mobility.

"We see entrepreneurship as an absolute catalytic way to do that.”

Haines, who studied psychology and was partly raised by her philosopher grandfather, says her lending work is at the “nexus of compassion and capitalism.”

She is the founder of what is now DreamSpring, which is celebrating its 30th anniversary with a luncheon at 11:30 a.m. Nov. 13 at the Clyde Hotel. The nonprofit is also starting a new DreamUp fund, which aims to raise $1 billion.

DreamSpring operates in 27 states and has issued more than 47,000 loans totaling more than $562 million since Haines launched in 1994. In those first years, the maximum loan was $500. Loans of that size are still in the portfolio — supporting a sewing machine for a home seamstress, for example — but the maximum loan amount has soared to $2 million.

That popcorn business from DreamSpring’s early years went on to pivot and achieve huge profitability in what has become one of Haines’ proudest success stories. It turns out the owner, who had a passion for fishing, was tying a fly at the popcorn stand one day, when a customer asked to buy one. That purchase started a trend — so much so that the family switched gears and ended up selling their handmade ties to a sporting goods store.

They were not only able to support themselves without public assistance and buy a home, but they provided mentorship to other DreamSpring clients struggling as they once had, Haines said.

“I think it’s an example of the triumph of the human spirit,” she says.

How did you become interested in microfinance?

“I had been living in Arizona and responded to an ad in the paper for a marketing program director for a microloan program. That is how I got exposure. I was immediately drawn to the idea that providing a small amount of financial capital and social capital to an entrepreneur who didn’t have access to bank capital could be really transformational. I saw firsthand the profound impact entrepreneurs have in their local communities and the impact of putting a small amount of capital in their hands.”

What are some reasons your clients have trouble getting a traditional loan?

“Some of our borrowers haven’t yet established a credit history, or they have challenges in their credit history, like medical bills from the past. Sometimes it’s because they’re a startup. Traditional financial institutions tend to see startups as particularly risky. Or they don’t have enough collateral or cash flow.”

What’s been a disappointment to you?

“Startup businesses tend to be the strongest job creators, but then they have the greatest churn.”

Do you have advice for young women who aspire to become a CEO?

“One, come to DreamSpring. Ask many questions, be curious, learn, surround oneself with mentors. Don’t be afraid of achievement and setting high goals. I think sometimes it’s harder for women to feel comfortable being seen as having very big goals for achievement. I wish that weren’t the case, but I do think sometimes there’s less of a comfort with women being seen with those aspirations. And those are some barriers that I think we collectively at DreamSpring, and I personally, want to break down.

My advice to a young woman or any individual interested in being a CEO is be passionate, be committed, … be curious and really embrace feedback and learning.”

Whom do you look up to?

“Within my family, I was raised partly by my grandparents, and they instilled in me a commitment to social justice and this fervent commitment to cultural pluralism.

My grandfather in particular (Horace Kallen) was one of my greatest role models. His father was a rabbi, and his family was thrown out of Germany for being Jewish. That very much influenced his experience when they came to the United States.

As he developed his philosophy, it was at a time when the melting pot was the main socioeconomic theory — you give up your culture, religion, ethnic identity to be part of American democracy. My grandfather believed one could contribute in a beautiful way to American democracy by celebrating one’s unique cultural, religious, ethnic identity.

His analogy was … an orchestra where you have these different sections and together the music is beautiful. That is so directly tied to the passion I have for economic inclusion.”

How do you unwind?

“One thing I do want to say is one of DreamSpring's values-based behaviors is leading with humility, energy, joyfulness and fun. The fun is really important.

In terms of me personally, there’s a lot that I do. I work out. I hike. I practice mindfulness. I get together with friends and play (board) games. I have started taking salsa dance lessons.”

How do you feel about DreamSpring reaching 30 years old?

“There’s so much more to do. There are still barriers to people realizing their dreams in the United States and to economic mobility. DreamSpring is very committed — I feel very committed — to working to tear down those barriers so that people, regardless of their background, can shape their own future.”

THE BASICS: Anne Elizabeth Haines, 62, born in Istanbul, Turkey; two daughters, Eliana Yatskowitz, 24, and Lilia Yatskowitz, 21; master’s degree in management, Willamette University, 1990; bachelor’s degree, Wesleyan University, 1983.

POSITIONS: Founder and president/CEO, Accion New Mexico/DreamSpring, since 1994; consultant, Accion International, 1992-1993; marketing and program director, Micro Industry Credit Rural Organization, 1991-1992.

OTHER: Founding chair, New Mexico Climate Investment Center, since mid-June 2024; member, U.S Bank Community Advisory Committee, since 2017; member, Microfinance Impact Collaborative, The Aspen Institute, since 2015; member, International Women’s Forum; longtime ambassador to CTEK.org; Denver branch of the Federal Reserve Bank of Kansas City, 2010-2016.