Small-business owners often struggle to gain financial backing from traditional lending institutions, sometimes due to poor credit or the small amounts of their loan requests. ACCION Chicago provides financial-consulting services and credit-building microloans, and looks past revenue and credit history to evaluate its loan applicants based on their commitment to their businesses and references from customers and suppliers. With the support of ACCION Chicago's microloans, small businesses are better able to grow, in turn improving the local economy. Since its founding, the organization has worked with more than 2,500 small businesses in the Chicagoland area and surrounding counties in Illinois and Indiana, and distributed $19 million in microloans, with a repayment rate of 96 percent.
Due to the economic downturn in recent years, many entrepreneurs have faced increased difficulty in acquiring the financial support necessary to maintain or expand their businesses. In response, ACCION Chicago has redoubled its efforts, granting at least $2.1 million worth of loans to more than 300 small businesses in 2011, which resulted in the creation and retention of more than 750 local jobs. Most of ACCION Chicago's clients earn low to moderate incomes, and a majority are racial minorities or women. More than half of borrowers have reported a doubling or better of their businesses' incomes after receiving microloans from the organization.
Join G-Team and donate $10 to help provide a microloan to a local business. If G-Team members raise $250, then ACCION Chicago can help a small business build its credit with a $500 microloan, with matching donations up to $5,000 from the ACCION Chicago board of directors. Each additional $250 raised, with the matching donation, will provide another $500 loan.
Unlike traditional Groupon deals, G-Team campaigns typically don't offer you a "discount" or "savings." So "buyer" beware—when you click "Buy" to donate your time or money to a worthwhile G-Team cause, the only discount you may receive is 100 percent off free, priceless karma. Read more about G-Team.
All donations will be matched up to $5,000 by the ACCION Chicago board of directors.