Accion serving illinois & Indiana
2017 Annual Report
Accion helps neighborhood entrepreneurs grow. We provide the capital, coaching, and connections small business owners need to create wealth and jobs throughout Illinois and Indiana. Where small businesses thrive, jobs are created, and investment into the community increases.
In 2017 we helped nearly 3,400 entrepreneurs grow their businesses. We funded 392 loans, investing $3.8 million into our neighborhoods. By doing this work, Accion continues to offer the most cost-effective way to create jobs and wealth in our neighborhoods. For every $2,000 invested in us, an entrepreneur we serve creates or maintains one job. That’s powerful.
Of course, our work in 2017 wasn’t just about numbers. The entrepreneurs we serve continue to inspire others in their communities while supporting their families. The stories you’ll read in this report are but a few of the many successful business people we have had the pleasure to work with in the past year.
In 2017, we prepared for the financial close for The Hatchery Chicago, a $34M food and beverage business incubator which will open on Chicago’s West Side by the end of 2018. Accion is a 50% joint venture partner, and we will move our offices to co-locate in that space in East Garfield Park. We also launched Accion In Your Neighborhood and the Neighborhood Entrepreneurship Lab, both of which you’ll read about in this report.
We’ve funded a loan for $500 and a loan for $100,000. We’ve provided free coaching to a working mom with an idea for her own business and to an experienced business owner preparing to open another store. We’ve connected entrepreneurs so they can learn from and provide services to one another and we’ve connected small business owners to potential customers and investors at nearly 20 events across Illinois and Indiana. And we’ve loved every minute of it.
This work is only possible with the support of our partners, donors, and supporters. Thank you for all you’ve done to help neighborhood entrepreneurs grow. We look forward to serving even more small businesses in 2018.
Chief Executive Officer, Accion Serving Illinois & Indiana