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1 Located downtown at th Avenue, ACCION San Diego is an independent, 501 (c) (3) non-profit organization that provides economic opportunity to micro-entrepreneurs who lack access to traditional forms of credit. With loans ranging from $300 to $35,000, ACCION San Diego assists small and home-based business owners, many of which are run by minorities and people with low-to-moderate income levels. (619) or (800) ,

2 More About ACCION San Diego Our Loan Program Services First time loans ranging from $300 to $10,000, subsequent loans up to $35,000 Start-up loans for aspiring micro-entrepreneurs who have completed training with our community partners Free technical assistance Credit reporting and referrals to counseling services Access to a computer lab and resource library Publicity/networking opportunities Financing within approximately two weeks Life and disability insurance Where We Get Our Funding Private donations Grants from foundations/companies Grants or low-interest loans from banks Why Micro-entrepreneurs Come to Us Small loan size Poor or no credit history Business operating histories of less than two years Language barriers Limited financial records Lack of collateral What Our Clients Use Loan Money For Equipment, inventory and supplies Renovations and business expansion Basic working capital etc Our Eligibility Requirements Business operating history of six months in San Diego county No bankruptcy in the past six months Must show the capacity to repay the loan Must be 18 years of age Business must be a legal activity Must have documented business income (i.e. receipts, invoices) Our Historical Performance (as of 12/31/2005) Total number of loans disbursed: 1,961 Total dollars disbursed: $8,841,472 Average loan size: $4,509 Number of clients served: more than 1,100 Female clients: 46%, Minority clients: 60%

3 Our Mission ACCION San Diego s Mission & History The mission of ACCION San Diego is to create increased income and job stability for lowto-moderate income, self-employed men and women by providing credit and other support services to these small business owners. Through loans and business support, ACCION San Diego has been helping micro-entrepreneurs strengthen their incomes, create additional employment and contribute to the economic revitalization of their communities since Our History Launched in May of 1994, ACCION San Diego is an affiliate of ACCION International, a worldwide leader in micro-enterprise development. Founded in 1961 in Latin America, ACCION International and its licensees have micro-lending programs throughout 20 countries in the United States, Latin America, the Caribbean and Africa. Building upon the experience of ACCION International, ACCION San Diego developed a successful lending methodology tailored to local micro-entrepreneurs enabling them to serve as catalysts for the economic revitalization of Southern California s neighborhoods. ACCION San Diego is committed to an integrated approach to the community and works with strategic partners in local government, community-based agencies, corporations, and banks. These collaborative efforts enable ACCION to maximize resources, minimize duplication of services, and cast a wider net reaching those in need. ACCION San Diego is also a certified Community Development Financial Institution (CDFI) from the U.S. Department of Treasury, and collaborates and shares best practices with ACCION licensee programs in Chicago, New Mexico, New York, Texas, Atlanta, New England, Boston and Miami. Accomplishments ACCION San Diego has lent over $8.8 million dollars since inception in December of In 2005 alone, we disbursed 230 loans in excess of $1.4 million. Our loss ratio in 2005 was 5.6% and our delinquency ratio was 5.5%. Historically both stand at 5%. ACCION San Diego maintains a close relationship with our clients and we are proud to say we have achieved these accomplishments with a staff of six and support from two Americorps*VISTA volunteers.

4 The Need for Micro-credit ACCION San Diego targets self-employed individuals and micro-business owners, many of which are run by women, other minorities and people with low-to-moderate income levels. Over 60 percent of our total client base identifies themselves as part of an ethnic minority group, and approximately 45 percent of ACCION clients are women all of whom are in need of micro-credit. The Southern California regional economy is growing at a faster rate than those of the country as a whole, yet 80% of the jobs with the most growth in California (fast food, retail services, grocery, health care, janitorial and security industries) pay less than a livable wage. 45% of these jobs pay below half of a livable wage. Struggling to adjust to the competitive global economy, many employers are shifting to part-time workers, non-standard schedules, contract labor, suburban worksites (which there is minimal or no public transportation) and fewer employee benefits. Faced with this wage situation and cost of living (which is 22% higher than the national average) many low-to-moderate income persons are turning to selfemployment as an alternative. Cumulatively, micro-enterprises employ thousands of people, feed and educate their families, and sustain the vital informal economic infrastructure of Southern California s older urban neighborhoods. These enterprises are owned and operated by hardworking men and women whose ethnic and cultural backgrounds reflect the community s rich diversity. ACCION San Diego s clients may be seamstresses, daycare providers, carpenters or hairdressers, all working hard to earn an income that will help them build a better future. Even for these determined micro-entrepreneurs, opportunity is limited by the difficulty of accessing business credit and technical assistance. Obtaining a loan from a bank is almost impossible for a variety of reasons such as small loan size, poor or no credit history, language barriers and limited financial records. Without access to working capital, micro-entrepreneurs have little chance of strengthening or expanding their tiny businesses. In order to maintain and grow their micro-businesses, ACCION San Diego borrowers often need very small loans to acquire basic working capital, to make improvements to their workspaces, to purchase equipment, and/or to buy inventory in bulk quantities. Once these micro-entrepreneurs have better established their business, many are able to receive larger loans from traditional loan sources such as banks and credit unions. We also encourage our micro-entrepreneurs to improve their business acumen. As their businesses grow, and eventually require larger amounts of capital from mainstream financial institutions, they will need to develop the formalized financial records and management skills required by these lenders. To assist our clients in this area, ACCION San Diego provides technical assistance, both through staff members and partnerships with community organizations.

5 Methodology ACCION San Diego has developed a lending methodology that enables low-to-moderate income micro-entrepreneurs to access credit, while maintaining a high quality loan portfolio. The program s character-based lending methodology takes into account the borrower s integrity, reliability, and entrepreneurial spirit when evaluating loan applications. The program prides itself on being accessible and on providing capital quickly. ACCION San Diego s loan committee meets on a weekly basis to review and process completed loan applications. Stepped Loan Amounts: ACCION San Diego s first time loans range from $300 to $10,000. Small first loans enable many low-to-moderate income borrowers to receive the credit they need to build their business and family incomes, while maintaining a manageable risk level and reasonable payment schedule. Upon demonstrating business growth and a positive repayment history, borrowers may access gradually larger loans. The maximum amount ACCION San Diego currently lends is $35,000. Collateral Requirements: ACCION San Diego s flexible collateral requirements make credit accessible even to clients with few business and personal assets. ACCION San Diego accepts non-traditional forms of collateral such as automobiles, equipment, and other business inventory. Co-signer Requirements: Co-signers may be required on first time loans exceeding $5,000. All other loans are evaluated on a case-by-case basis with co-signers required depending on the level of risk. Pricing: ACCION San Diego s pricing structure, which includes incentives for timely repayment, takes into account market interest rates, our costs of lending, and our goal of reaching program self-sufficiency. Interest rates range from 10% to 16% depending upon the client s credit, as well as repayment history for repeat clients. An administrative closing fee, based on the loan amount, is collected at the time of loan disbursal and is regulated by the State of California Department of Corporations. ACCION San Diego also has a late payment fee schedule, providing an added incentive for borrowers to pay on time. Terms: Loans terms vary from 3 to 48 months with equal monthly payments. As loan amounts increase, the loan term increases, enabling borrowers to maintain reasonable monthly payments as they move to larger loan amounts. Borrowers are also permitted to prepay their loan balance without penalty at any time after the first three months of payment. Credit Insurance: ACCION San Diego offers life and disability insurance to cover the borrower s debt, relieving the family of the debt burden, in the event that the borrower became incapacitated due to poor health or injury. The premium is included in the regular monthly payments.

6 Business Training: ACCION San Diego s clients are often quite accomplished in their specific industry, but may lack the necessary expertise for business management and growth. They may be excellent childcare providers or skilled contractors, for example, but do not have training in basic financial reporting. ACCION has found that the most effective way to help borrowers develop their business skills is to offer individualized training on an asneeded basis by our staff or partner organizations. All of our incoming clients receive basic technical assistance from loan officers during the intake process. Topics covered include marketing, separation of business and personal finances, and credit counseling. If clients require additional assistance during the intake process, we refer them to the Small Business Development Center, SCORE, The Veteran s Business Center or The Women s Business Center of California. These organizations offer assistance in finance, marketing, business planning, government contracting, manufacturing, general business, accounting and e-business. Over the past year, ACCION San Diego has been focusing our efforts on increased technical assistance. Recently we have created a small computer lab which is available for our clients to access the internet, work on various computer programs and tend to their business needs. Also, to determine which areas of technical assistance are the most crucial for our clients, we have begun administering preliminary and exit technical assistance surveys to our clients.

7 ACCION San Diego s Awards Comerica Revolving Grant Fund of $250,000 In September 2005, Comerica Bank announced ACCION San Diego as the recipient of a $250,000 revolving grant fund. The grant will be used to support the microlending program, giving ACCION the funds to provide more small business loans to hard working microentrepreneurs. In addition to the revolving grant fund, Comerica Bank gave ACCION San Diego a $15,000 operational grant to cover the costs of the program. We are happy to have Comerica Bank as a community partner and we want to extend our appreciation for their continuous support of our program. Multicultural Heritage Award Finalist San Diego Business Journal 2005 These organizations were recognized for their commitment to diversity in the workplace and community. ACCION San Diego was one of 50 finalists. Neighborhood Builders Award Bank of America 2004 This award was given to two neighborhood non-profit organizations working to promote vibrant neighborhoods in 30 markets across the county. ACCION San Diego was one of the two recipients of a $200,000 multi-year grant, as well as leadership training for senior staff members. Strategic Partner Award Citibank 2004 This award is to recognize the strategic partnership between ACCION San Diego and Citibank and Citibank s continuing support for ACCION s mission. Top 25 Social Capitalists Award Fast Company Magazine, January 2006 For the third year running, ACCION's pioneering role in micro-finance was recognized for generating tangible results in fighting poverty by bringing a full range of financial services to the poor. The Fast Company/Monitor Social Capitalist Awards are the first of their kind - quantitatively measuring a group's innovation and social impact, as well as the viability and sustainability of its business model. Mark Vamos, editor of Fast Company commended ACCION s work, We applaud the efforts and business acumen of ACCION which, well beyond its dedication to scalable solutions for poverty alleviation, is a business-oriented organization of vision worthy of imitation in both the non-profit and for-profit sectors. America s Top 100 Philanthropies Worth Magazine, December 2001 ACCION was named one of the nation's top charitable institutions in the December 2001 issue of Worth Magazine. Worth's "America's 100 Best Charities" list was chosen from over 800,000 nonprofit organizations in the country and is based on six months of research into financial statements, mission fulfillment and impact evaluations. ACCION was one of 21 organizations listed in the "Relief and Development" category. Presidential Award for Micro Enterprise Development President Clinton, 1997 President Clinton honored ACCION and its U.S. Network with one of the first Presidential Awards for Excellence in Micro-enterprise Development for its success in demonstrating the viability of micro-lending in the United States.

Located at 404 Euclid Avenue, ACCION San Diego is an independent, 501 (c) (3) non-profit organization that provides economic opportunity to

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