Access to Capital
We know that getting access to working capital can be a significant challenge for small food and beverage businesses. Through our lending partner, Accion, we offer a range of loan products and expertise that enable business owners to hire, upgrade equipment, renovate or secure a larger space, buy more inventory and lay the foundation for continued growth.
Do you qualify for a loan through the Brewing the American Dream program?
Here are the basic requirements small business owners need to meet to qualify for a loan through Accion:
- Minimum FICO credit score of 500-630*
- No active bankruptcy, mortgage modifications, foreclosure, tax liens/judgments without payment plan
- No slow pay on business and personal rent payments, credit payments, etc.
- Ability to repay loans either through income or profitable business (collateral or co-signer may be required)
- Business does not involve real estate development, nonprofit organization, exporting, multi-level marketing, lending, or adult entertainment
*Factors may change according to region. Additional factors may apply.
Ready to apply for a loan? Check out our Apply Now page.
What size loans do you offer?
As our microlending partner for Brewing the American Dream, Accion offers loans that range from $200 - $50,000. However, their average microloan size is about $10,000. In a limited number of geographies Accion is able to make loans up to $300,000. To find out more about the loans Accion offers in your area visit your local Accion's loan page.
What is the interest rate on your loans?
Interest rates vary depending on a variety of factors including, but not limited to, the type of loan for which you are applying, your business experience, cash flow, and credit score. At Accion your APR can range from 7.99 - 21.99% depending on the loan product for which you qualify.
Understanding interest rates while shopping for a loan is critical and not always as straightforward as it seems. Want more information about how to be smart when shopping for a loan? Learn how interest rates really work.
What do I need to qualify for a loan?
There are several factors Accion looks at when assessing whether or not you qualify for a loan. Accion’s underwriters look at a combination of things, such as your business plan, business performance (for established businesses), whether or not you are up-to-date on all of your bills, your credit score and personal references. Want to learn more? Visit Accion’s “See if I Qualify” page.
How do I apply for a loan?
Applying for a loan with Accion is simple! You can start by filling out the loan application — it will take you about 15 minutes to complete. Accion will be in touch within two business days with next steps. If you are a good candidate for a loan, you’ll be connected to an Accion loan officer who will work with you throughout the process.To find out more about the application process, visit Accion’s “How to Apply” page.
Still have more questions? Contact us!