Applying for business loans often becomes a numbers game. Must have a credit score this good to qualify. Must have revenue this high to apply. Must have been in business this long to be considered. And if you don’t have the right numbers? You’re out of luck.
Accion does things a little differently. It still looks at the numbers, yes, but it has flexible loan requirements and an interest in getting to know your business. That means Accion often funds people that wouldn’t qualify for loans elsewhere—like startup businesses and business owners with bad credit.
Of course, there are some tradeoffs along the way. So before you apply to Accion, let us tell you all about this nonprofit lender—the pros, cons, and quirks you should know.