ACCION USA Chosen to Join Citi Foundation-funded Project

Funds Will Support Summer Internship

Boston, MA (PRWEB) April 17, 2008

Microfinance pioneer and small business lender ACCION USA will get some valuable help collecting information about clients' needs, experiences and accomplishments thanks to a grant from the Citi Foundation to hire a summer intern. Recruitment of a graduate student for the internship will begin immediately.

Selected through a competitive process, ACCION USA will join 19 other programs nationwide in the Citi Microenterprise Researchers Program, an initiative that is expected to result in one of the largest national data sets on microenterprise owners, while also introducing college students to potential career opportunities in the microenterprise field.

Microenterprises are defined as very small businesses capitalized with $35,000 or less and employing five or fewer people.

Interns in the 12-week program will receive $7,000 stipends funded by the Citi Foundation, and data-collection training provided by FIELD, the microenterprise Fund for Innovation, Effectiveness, Learning and Dissemination, a research project housed at the Aspen Institute in Washington D.C. FIELD has been funded by the Foundation to manage the program. The interns will travel to Washington D.C. twice; in June to receive training and at the end of the summer to review their findings and experiences.

The Citi Microenterprise Researchers Program grew out of recognition that many nonprofits providing help to small businesses in their community do not have the capacity to collect data that can be used to improve or add loan products and services, fund-raise or advocate for entrepreneurship.

"ACCION USA is part of a select group of programs nationally that have been chosen for this award from the Citi Foundation," said David Black, who will manage the project at FIELD. "The data collected on clients not only will help drive program performance, it will contribute to an important national database on microentrepreneurs."

The Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in the communities where it works throughout the world. Globally, it focuses its giving on microfinance and microentrepreneurship, which helps individuals become economically self-sufficient; small and growing businesses leading to economic expansion and job creation; education, which prepares young people for personal and professional success; financial education, which helps individuals make informed financial decisions; and the environment with a focus on sustainable enterprises that generate jobs and stimulate economic growth while preserving the environment.

About ACCION USA
ACCION USA is a private, nonprofit organization that serves low- and moderate-income individuals, primarily minorities and women, who are unable to access mainstream business loans and financial services. A pioneer and recognized leader in the domestic microfinance field, ACCION USA is dedicated to providing microentrepreneurs and individuals on the economic margin with the crucial chance to access capital and develop greater financial literacy. ACCION USA is a member of the U.S. ACCION Network, the largest U.S. microlending network, with over $210 million lent since inception in 1991. ACCION USA business loans range from $500-$25,000 and are offered nationwide via the ACCION USA online lending platform. For more information about ACCION USA's small business loan products, visit http://www.accionusa.org.

Media contact:
Monica Lai
Associate Director, ACCION USA
(617) 616-1589

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