Announcing the Smallknot/Accion Co-Funding Program
Smallknot is thrilled to announce today a new partnership program with Accion serving the East Coast and Online, a leader in U.S. microfinance. The Smallknot/Accion East program is a revolutionary co-funding alternative for small business owners, blending crowdfunding and microlending. Under the partnership, small businesses can leverage crowdfunded capital raised on Smallknot to unlock business loans from Accion. Crowdfunded collateral raised via Smallknot will help small business owners get access to potentially larger loans than those for which they would otherwise qualify, while building meaningful business credit for the business owner.
We couldn’t be more excited to combine forces with Accion in bringing this program to market. Accion East and Online is part of the U.S. Accion network the largest microlending network in the U.S. With over $340 million lent since 1991, Accion is committed to bringing affordable microfinance solutions to small business owners nationwide and has helped thousands of small businesses grow and thrive.
Our very first campaign in partnership with Accion launched yesterday: A7, makers of hand-crafted leather camera straps here in Brooklyn. Co-owners Melissa Patenaude and Craig Hackney are seeking $7,500 to fund their new fall line and increase their distribution. It’s a beautiful product, and their previous limited edition run received great reviews in magazines like GQ and across the internet.
The Smallknot/Accion program is an innovative new way of leveraging the power of crowdfunding to bring increased access to capital for small businesses looking to expand and grow. In addition to building business credit and unlocking capital, the partnership will help promote the visibility of all our Smallknot campaigns.
For more information about the Smallknot/Accion co-funding program, and to find out how to apply, click here.