Nonprofit to expand lending for minorities, lower income entrepreneurs

A regional nonprofit plans to expand its lending opportunities for minorities and low-to-moderate income entrepreneurs in mainly rural Colorado thanks to a recent investment. Accion, a regional nonprofit organization, announced a $2.75 million investment from the Colorado Health Foundation in a Monday press release. The funds will go towards helping “improve economic opportunities and health outcomes for populations in Colorado that face barriers to entrepreneurship.” “Through an increase in its microfinancing and small business loan activities, Accion aims to level the playing field and reduce inequities for individuals for whom the door to capital is often shut,” the release said. The $2.75 million is furnished by a $1.75 million program-related investment as lending capital in addition to a $1 million program grant. “We are thrilled with this commitment from the Colorado Health Foundation,” said Anne Haines, the president and CEO of Accion, in the release. “This dynamic partnership will help Colorado’s underserved entrepreneurs improve their financial stability and become catalysts for healthier communities across the state.”