Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

Status update — May 15, 2019

After 6 years of partnership and more than $1m in loans raised, Accion San Diego and Kiva have agreed to end their partnership. Unlike many of our Lending Partners in emerging markets, U.S. based microfinance lenders have access to lower cost and more flexible sources of capital. In addition, the ongoing investment resources to upload loan requests to Kiva and report on repayments end up costing organizations more in developed markets where the cost of labor is substantially higher. Thus the value proposition represented by Kiva's interest-free financing is smaller for these organizations. Accion San Diego has submitted its final repayment to Kiva and all their loans have ended. We thank Accion San Diego for the years of collaboration and wish them success in their future endeavors.

Status update — April 1, 2016  

Kiva has moved this Lending Partner to inactive status. This means Accion San Diego is no longer fundraising loans on Kiva, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance. The reasons a partner might become inactive include: taking time to develop a new type of loan, turnover on the partner’s management team, a shift in overall strategy or changes in funding sources. If and when this partner requests to fundraise again on Kiva, Kiva will first conduct any additional monitoring and due diligence tasks we believe necessary.

Partner Description:

Accion San Diego  is a non-profit microfinance and community development financial institution providing business support services and loans ranging from $300 to $50,000 to entrepreneurs in San Diego County, California.

Accion’s mission is to create economic opportunity for primarily low-to-moderate income business owners who lack access to traditional sources of credit. Through business loans and support services, it strengthens the roots of emerging entrepreneurs and helps them thrive in their communities, creating social and economic change.

Over 90% of the businesses in San Diego qualify as small businesses, and when these local small businesses do well, local jobs are created and communities grow stronger. As small businesses form the backbone of the local community, there is an even greater need for flexible financing options like the one’s offered by Accion San Diego.

Jinny used her $10,000 Kiva loan to keep her sushi restaurant open and growing!

A unique lending approach:

Accion seeks to champion and empower entrepreneurs by giving them the opportunity to achieve their small business dreams.  Each loan officer works personally with clients to get to know their needs and walk side-by-side with them every step of the way, from the initial application through the life of the loan.

Many of the San Diego entrepreneurs Accion serves start out with no credit history, are looking to rebuild their credit, have limited financial footing or are operating businesses like startups and home-based shops to which traditional banks are unlikely to lend. They rely on Accion for the small, more flexible loans that it uniquely provides, and its one-on-one lending approach that considers character and other business strengths in addition to credit history.

Accion’s education-based approach to micro-lending also distinguishes its loan program. The institution conducts monthly small business workshops on marketing, finance, credit, human resources and legal topics. As part of its loan process, it also requires mandatory sessions for clients with business counselors from the Small Business Development Center (SBDC) to review their personal financial and credit educations. These workshops and resources are provided both in-house by Accion San Diego and in collaboration with a strong network of local organizations. 

Accion’s impact:

Since its launch in 1994, Accion has provided financing for more than 2,000 San Diego entrepreneurs.  Each of these loans represents a real business owner who is now able to expand their business, provide more for their family, and add jobs to the local economy.  From lobster fishermen to in-home fashion designers, Accion’s clients reflect the community’s rich diversity.  Other figures that reflect the organization’s impact include:
-Over 3,100 loans totaling more than $20 million made since 1994.
-Almost $2.5 million loaned to small business owners in 2013 alone.
-More than 64% of clients are low-to-moderate income (LMI)
-More than 60% of clients are ethnic minorities.
-An active loan portfolio of almost $4 million as of Jan 2014.
-Over 1,000 jobs generated and/or maintained by clients in San Diego every year.

A local organization with a global footprint:

Accion San Diego is a member of the Accion U.S. Network, the largest micro- and small business-lending network in the United States. The network’s five members have collectively made more than 47,700 loans totaling more than $380 million. Globally, Accion is a pioneer in microfinance, reaching millions of individuals through its international network of partners.

Interested in applying for a small business loan or getting more involved? Visit accionsandiego.org