Friday, February 27, 2015
MetLife Foundation Increases Access to Online Capital for Small Businesses
The Accion U.S. Network, the largest nonprofit micro- and small business lending network in the United States, announced today that it has received $1 million from MetLife Foundation to invest in its online lending platform to help more women, minority, and immigrant entrepreneurs access capital and education online and achieve business health and growth.
The platform – us.accion.org – helps entrepreneurs start and grow a small business through financing and business education. The $1 million grant will help Accion raise the site’s visibility through content marketing and advertising; test and develop new loan products to meet the diverse capital needs of entrepreneurs; and integrate new technologies to streamline the loan application process and strengthen the overall customer experience. During its 6-month pilot phase, the platform processed more than 1,000 applications and disbursed more than $1 million to businesses across the United States....