Accompany Capital Inc

Programs: Bcnas microloan program awarded 347 small business loans with a value of $2,580,500 to immigrant, refugee, and women micro-entrepreneurs operating businesses in all five boroughs of new york city. Bcna worked with clients from 43 countries in fy 2017. 95% of all loans went to minority entrepreneurs and 56% were granted to women. Bcna helped entrepreneurs start 32 new businesses, expand 73 existing businesses, and strengthen 558 businesses. As a result, 61 full-time and 73 part-time jobs were created and 697 jobs were retained, supporting the economic development of communities throughout the city. Business center for new americans provides: micro-loans for small businesses that range from $500 to $50,000 financial literacy and business management workshops individualized coaching and technical assistance for micro-entrepreneurs credit repair services and credit building loans home ownership training that connects clients with down payment assistance programs incentivized savings program for refugees through individual development accounts during fy 2017, the business center for new americans: awarded 347 small business loans with a value of $2,580,500 to immigrant and refugee micro-entrepreneurs. Ninety-five percent of loans went to minority entrepreneurs, with 56% granted to women. Helped entrepreneurs start 32 new businesses, expand 73 businesses, and strengthen 558 existing businesses, creating 61 full-time and 73 part-time jobs and retaining 697 jobs. 676 unique clients were served through workshops and intensive one-on-one counseling. Provided 39 workshops on an assortment of small business related topics, as well as credit building and homeownership, with 336 participants in total. Assisted 70 refugees to save money through the individual development account program, which matches savings dollar for dollar up to $2,000 for individuals and $4,000 for families. The total leveraged value of the client savings, savings match, and microloans to those starting a small business or investing in further education or recertification by 51 refugees who successfully graduated from the program was $316,000. Bcna provided 4,952 hours of small group training and individualized assistance to 699 clients in fy 2017. A total of 39 workshops were offered on small business management, financial literacy, social media marketing, and homeownership, with a total of 336 participants. Bcna staff assisted 658 businesses through business plan development, credit review and repair, cash flow analysis, and preparing business loan applications.

bcnas individual development account program provides financial literacy training and matching grants to assist refugees and asylees learn personal financial management skills and grow their savings. Each refugee can receive grants of up to $2,000 for an individual or $4,000 for a family. Grants must be used to invest in a small business, towards the purchase of a first home, or to cover costs of further education or vocational training. In fy 2017, a total of 70 refugees participated in the ida program and 51 refugees and asylees reached their savings goals, leveraging a total of $316,000 in savings, match grants, and microloans. The business center for new americans is certified as a community development financial institution (cdfi) by the us department of the treasury and a small business administration intermediary microlender by the u. S. Small business administration (sba). In fy 2017, bcna was recognized by the small business administration for making the most sba microloans in new york city for the 11th year.